Someone with a lot of money to spend has taken a bullish stance on Apple AAPL.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with AAPL, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga‘s options scanner spotted 18 uncommon options trades for Apple.
This isn’t normal.
The overall sentiment of these big-money traders is split between 66% bullish and 33%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $85,936, and 15 are calls, for a total amount of $1,128,036.
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 $140.0 to $170.0 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 28550.0 with a total volume of 264,623.00.
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 $140.0 to $170.0 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|
Where Is Apple Standing Right Now?
- With a volume of 14,132,012, the price of AAPL is up 1.15% at $170.42.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 76 days.
What The Experts Say On Apple:
- Citigroup has decided to maintain their Buy rating on Apple, which currently sits at a price target of $185.
- Rosenblatt has decided to maintain their Neutral rating on Apple, which currently sits at a price target of $160.
- Wells Fargo has decided to maintain their Overweight rating on Apple, which currently sits at a price target of $185.
- Keybanc has decided to maintain their Overweight rating on Apple, which currently sits at a price target of $177.
- Raymond James has decided to maintain their Outperform rating on Apple, which currently sits at a price target of $185.
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.
Image and article originally from www.benzinga.com. Read the original article here.