Apple Stock in Spotlight Amid Antitrust Lawsuit

Options traders are less bullish than they have been recently

Deputy Editor
Mar 22, 2024 at 11:14 AM
facebook X logo linkedin

Apple Inc (NASDAQ:AAPL) is in focus, as the U.S. government sues the tech giant over alleged iPhone "monopoly power." A Reuters report pointed out the similarities between the lawsuit and the winning 1998 case against near-monopoly at the time, Microsoft (MSFT), but noted that as the industry changes, the lawsuit against Apple could be more difficult.

European regulators are also cracking down on Big Tech, Apple included, over potential violations of the European Union's Digital Markets Act (DMA). Separately, Apple is allegedly in talks with China-based Baidu (BIDU) about using its artificial intelligence (AI) software for its devices.

Apple stock is up 0.4% to trade at $172.05 at last glance. The equity is down nearly 11% since the start of the year, but recently found support at the $170 level. 

Though calls are winning out on an absolute basis in the options pits, it's worth noting put volume is running at double what is typically seen at this point. So far today, 351,000 calls and 316,000 puts have been exchanged, with new positions being opened at the 3/22 170-strike put -- the most popular contract by far. 

This represents a slight shift in the options pits, as calls have been much more popular than usual over the past two weeks. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AAPL's 10-day call/put volume ratio of 2.17 ranks higher than 90% of readings from the past year. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI