Learn the trade here. Make it on tradeMONSTER

Options Trading News

November 7, 2012  Wed 12:21 PM CT

AAPL: SEE CHART GET CHAIN FIND STRATEGIES
Option volume is very strong in Apple as shares are now down to the lowest levels since May.

More than 715,000 AAPL options have changed hands so far today, with 395,000 calls. That is the second-highest volume on the option market today, already eclipsing its full-session average of the last month and trailing only the SPDR S&P 500 Fund (SPY).

The top options in play are the weekly out-of-the-money calls that only have two days left to trade. The 560, 570, and 580 calls all see more than 22,000 contracts trade, and all three have open interest of fewer than 7,000, so these are new positions. The 565 and 570 calls are also in play with more than 16,000 contracts each.

Again, given the action and the time to expiration this appears to be intraday trading looking to capture very short-term moves. While calls still outpace puts overall in the name, the put/call ratio is significantly higher than the 20-day average of 0.61.

AAPL is down another 3.6 percent today, trading now at $559.27--leaving it firmly in a bear-market territory, down more than 20 percent from its all-time high. It has been sliding since breaking above that $700 mark and it has closed above its 10-day moving average only once since then.
Share this article with your friends


Related Stories

AAPL

Cramer: IBM deal is smart for Apple

July 17, 2014

How big a deal is the new IBM alliance for Apple? Very. This is all about IT--meaning that the objections of the IT departments are finally being met from the ground up.

AAPL

Trader looks for more green in Apple

July 2, 2014

The electronics and computer giant is at its best level since coming off 52-weeks highs earlier this month, and a large trader is looking for shares to continue their recent run higher.

Premium Services

Free Webinars

Education & Strategy

How to navigate earnings season

We are embarking on one of the most frustrating times for new option traders: earnings season.Many new traders buy options,...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER