Spotlight on Apple: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Apple AAPL.

And retail traders should know.

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

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 25 uncommon options trades for Apple.

This isn't normal.

The overall sentiment of these big-money traders is split between 56% bullish and 32%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $157,664, and 22 are calls, for a total amount of $3,121,796.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $245.0 for Apple over the last 3 months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Apple stands at 27271.4, with a total volume reaching 50,498.00. 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 $5.0 to $245.0, throughout the last 30 days.

Apple 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Having examined the options trading patterns of Apple, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Apple

• With a trading volume of 3,555,935, the price of AAPL is up by 0.89%, reaching $227.0.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 73 days from now.

What Analysts Are Saying About Apple

In the last month, 5 experts released ratings on this stock with an average target price of $224.2.

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. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $260. * Consistent in their evaluation, an analyst from Barclays keeps a Underweight rating on Apple with a target price of $184. * Consistent in their evaluation, an analyst from Maxim Group keeps a Hold rating on Apple with a target price of $215. * An analyst from Rosenblatt has decided to maintain their Buy rating on Apple, which currently sits at a price target of $262. * In a cautious move, an analyst from Keybanc downgraded its rating to Underweight, setting a price target of $200.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Apple options trades with real-time alerts from Benzinga Pro.