What Are The Investors Doing With Apple

Someone with a lot of money to spend (and possibly insider knowledge) has taken an unusually bearish stance on AppleAAPL.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with AAPL, it often means somebody knows something is about to happen.

So how do we know what the Smart Money just did?

Today, Benzinga's options scanner spotted 310 uncommon options trades for Apple.

This isn't normal.

The overall sentiment of these big-money traders is split between 39.03% bullish and 60.97%, bearish.

Out of all of the special options we uncovered, 145 are puts, for a total amount of $29,969,685, and 165 are calls, for a total amount of $15,959,839.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $62.5 to $200.0 for Apple in the over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Apple's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Apple's smart money trades within a strike price range from $62.5 to $200.0 in the last 30 days.

Apple Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Apple Standing Right Now?

• With a volume of 97,840,151, the price of AAPL is down -2.46% over the last 24 hours at $139.14.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 24 days.

What The Experts Say On Apple:

• Tigress Financial has decided to maintain their Strong Buy rating on Apple, which currently sits at a price target of $198.0.
• Piper Sandler has decided to maintain their Overweight rating on Apple, which currently sits at a price target of $175.0.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.