Apple options are doing something unusual into earnings

📰 source: cnbc_topnews · 💼 business

apple options are doing something unusual into earnings, with traders piling into calls as the stock sits near an all-time high. apple reports after the bell thursday, and options premium on friday totaled $590 million, with $442 million in calls. buyers snapped up almost 560,000 calls versus 332,000 puts. implied move is nearly 4%, much larger than the average historical 1% swing.

the biggest trade was someone opening a $2.6 million position in 280-strike calls expiring mid-august, a bullish stock replacement. the strike with the most open interest for this friday is $320, with 13,000 calls versus 5,000 puts, suggesting confidence last week's lows will hold. nigam arora, founder of the arora report, said apple could help stabilize the market because it isn't spending heavily on ai capex like peers.

why it matters: apple earnings options imply an unusually large move, with traders leaning bullish into the report, potentially setting up a market catalyst.

source: cnbc_topnews
sentiment: +0.70 · impact: 0.60