Bulls Already Hot on Apple Stock Before WWDC

The Worldwide Developer’s Conference is underway

Digital Content Manager
Jun 10, 2024 at 2:50 PM
facebook X logo linkedin

The Worldwide Developer’s Conference (WWDC) is currently underway, and Apple Inc (NASDAQ:AAPL) appears to have plans to enter the artificial intelligence (AI) space. Bloomberg reported the tech giant is expected to announce a partnership with OpenAI and launch "Apple Intelligence." So far, the company already announced iOS 18, AirPod updates, and VisioOS 2.

Despite hitting a new 2024 peak of $197.30 earlier in the session, AAPL was last seen down 1.1% to trade at $194.79. Shares have relied on support from the 20-day moving average since early May, and sport a 13.1% quarter-to-date lead, but are flat this year.

Apple stock is often featured on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that have attracted the highest options volume during the last 10 days, and this week is no different. Bullish bets have been popular during the past two weeks, with 5,642,053 calls and 2,617,721 puts traded. The most popular contract was the weekly 6/7 195-strike call.

MAO 0610

At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), AAPL's 50-day call/put volume ratio of 2.04 ranks higher than 90% of annual readings. This indicates long-term bullish bets have been popular as well.


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI