Apple options are doing something unusual into earnings
Of the $590 million in options premium traded on Apple Friday, $442 million was tied to calls, according to SpotGamma. Traders bought almost 560,000 calls, compared to just 332,00 puts, ThinkOrSwim data show. That suggests even if the earnings don't lead to a rally, investors are confident last week's lows will hold.The most popular contract expiring Friday by volume bought on Friday was the 300-strike put, with 7,500 contracts traded but for just $374,000 in total premium.
- ▪Of the $590 million in options premium traded on Apple Friday, $442 million was tied to calls, according to SpotGamma.
- ▪Traders bought almost 560,000 calls, compared to just 332,00 puts, ThinkOrSwim data show.
- ▪That suggests even if the earnings don't lead to a rally, investors are confident last week's lows will hold.The most popular contract expiring Friday by volume bought on Friday was the 300-strike put, with 7,500 contracts traded but for ju
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Of the $590 million in options premium traded on Apple Friday, $442 million was tied to calls, according to SpotGamma. Traders bought almost 560,000 calls, compared to just 332,00 puts, ThinkOrSwim data show. Perhaps more importantly, options prices currently imply an almost 4% move for Apple after earnings, an unusually large move considering the average historical 1% swing over the past year, according to Cboe LiveVol data."I think the probability is fairly high that Apple could help stabilize the market this week," said Nigam Arora, founder and author of The Arora Report newsletter.
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