A whale with a lot of money to spend has taken a noticeably bearish stance on Apple.
Looking at options history for Apple AAPL we detected 23 strange trades.
If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $299,675 and 17, calls, for a total amount of $736,470.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $139.0 to $155.0 for Apple over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Apple options trades today is 18766.64 with a total volume of 79,993.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Apple's big money trades within a strike price range of $139.0 to $155.0 over the last 30 days.
Apple Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AAPL | CALL | SWEEP | BEARISH | 12/16/22 | $155.00 | $119.6K | 23.2K | 496 |
| AAPL | PUT | SWEEP | NEUTRAL | 11/25/22 | $139.00 | $79.9K | 395 | 29 |
| AAPL | CALL | SWEEP | BEARISH | 10/28/22 | $144.00 | $69.0K | 14.2K | 193 |
| AAPL | PUT | SWEEP | BEARISH | 10/28/22 | $145.00 | $66.7K | 14.3K | 109 |
| AAPL | PUT | SWEEP | BEARISH | 10/28/22 | $140.00 | $56.8K | 25.9K | 9.3K |
Where Is Apple Standing Right Now?
- With a volume of 17,417,256, the price of AAPL is down -0.49% at $146.54.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 3 days.
What The Experts Say On Apple:
- Morgan Stanley has decided to maintain their Overweight rating on Apple, which currently sits at a price target of $177.
- Rosenblatt upgraded its action to Buy with a price target of $189
- Credit Suisse has decided to maintain their Outperform rating on Apple, which currently sits at a price target of $190.
- Barclays has decided to maintain their Equal-Weight rating on Apple, which currently sits at a price target of $155.
- B of A Securities downgraded its action to Neutral with a price target of $160
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 want to stay updated on the latest options trades for Apple, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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