Options Traders Looking For Upside on Apple in September (AAPL)
August 20, 2010 1:28 PM
Shares of Apple Inc. (NASDAQ: AAPL) are flat on the session, currently trading at $249.86. Interesting to note is that the stock is outperforming the NASDAQ 100 (NASDAQ: QQQQ), which is lower by 0.30%, in which APPL is the largest weighting.
Traders have been trading the $250.00 to $260.00 channel in the name for the past four months and it appears that this trend will continue into September. September call volume, which is heaviest on the $250, $260, and $270 strikes, is running at ~14,000 contracts versus September put volume which is, heaviest on the $230, $240, and $250 strikes, running at ~10,500 contracts.
Apple Inc. designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, and sells a variety of related software, services, peripherals, and networking solutions. The company sells its products worldwide through its online stores, its retail stores, its direct sales force, and third-party wholesalers, resellers, and value-added resellers.
