Apple Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards Apple AAPL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AAPL usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 186 extraordinary options activities for Apple. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 43% leaning bullish and 44% bearish. Among these notable options, 51 are puts, totaling $3,320,832, and 135 are calls, amounting to $9,791,438.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $155.0 and $300.0 for Apple, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Apple stands at 9040.1, with a total volume reaching 2,841,022.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Apple, situated within the strike price corridor from $155.0 to $300.0, throughout the last 30 days.

Apple Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Apple

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.

Following our analysis of the options activities associated with Apple, we pivot to a closer look at the company's own performance.

Present Market Standing of Apple

• With a trading volume of 67,066,429, the price of AAPL is down by -1.45%, reaching $234.15.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 90 days from now.

Professional Analyst Ratings for Apple

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $241.866.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Jefferies has decided to maintain their Underperform rating on Apple, which currently sits at a price target of $202. * An analyst from Barclays has decided to maintain their Underweight rating on Apple, which currently sits at a price target of $197. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Apple, targeting a price of $260. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Apple, which currently sits at a price target of $280. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Apple with a target price of $270.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Apple with Benzinga Pro for real-time alerts.