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Most Active Options Update: Apple Inc. (AAPL)

Apple Inc. option traders eye end-of-the-week upside

by 12/30/2013 3:03 PM
Stocks quoted in this article:

The 20 stocks listed in the table below have attracted the highest total options volume during the past 10 trading days. Names highlighted are new to the list since the last time the study was run, and data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. One name of notable interest this afternoon is Apple Inc. (NASDAQ:AAPL).


Calls have been the options of choice on Apple Inc. in recent months, per data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). During the course of the past 50 sessions, the stock has racked up a call/put volume ratio of 2.01, which ranks in the 76th percentile of its annual range. In other words, calls have been bought to open over puts at an accelerated clip.

It's a similarly skewed backdrop in today's session, where calls are outpacing puts by a margin of nearly 2-to-1. The most sought-after position is the weekly 1/3 555-strike call, which has seen 12,048 contracts change hands, a healthy portion of which have done so on the ask side. Implied volatility has ticked higher, and volume easily surpasses current levels of open interest, pointing to buy-to-open activity.

On the charts, Apple Inc. (NASDAQ:AAPL) has been making headway since hitting its most recent low of $447.22 on Sept. 16, with the shares up more than 23% to trade at $552.52. However, the stock has shed 1.3% today, following reports that Apple's board of directors asked shareholders to reject Carl Icahn's $50 billion stock buyback proposal. As such, delta for the aforementioned call has dropped to 0.46 from Friday's reading of 0.64, suggesting a 46% chance of an in-the-money finish.


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