Apple's Q2 Earnings Release Looms: Options Market Shows Bullish Trend Outweighing Bearish

Apple Inc. AAPL is scheduled to report after the bell on Thursday its fiscal second-quarter results.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Apple was the fourth most active single stock traded, with bullish bets outpacing bearish ones by 30%, on Wednesday. The options market implied a move of about 4.1% which is in line with the past eight reported quarters, he added.

Check out other stocks making moves in the premarket.

There were buyers of 55,000 of the May 180 calls at an average price of 89 cents per contract, Khouw mentioned. Traders expect Apple’s stock to rise by at least 8% by May expiration, he stated.

There's a consensus Buy rating on Apple, according to Benzinga's analyst ratings data.

AAPL Price Action: Shares of Apple declined by 0.65% to close at $167.45 on Wednesday.

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