Apple stock saw a surge in options volume over the last 10 trading days
Investors are awaiting updates from Apple Inc (NASDAQ:AAPL) amid the tech giant's Worldwide Developers Conference (WWDC), with a keynote address set for 1 p.m. ET. AAPL was last seen 0.4% higher at $204.78, though a larger move will likely follow the anticipated announcement of products, features, artificial intelligence (AI) features, and more.
Apple stock is no stranger to high options volume, landing on Senior Quantitative Analyst Rocky White's list of equities with the highest options volume over the past two weeks. In the last 10 sessions, the stock has seen 5,074,483 calls and 4,000,240 puts exchanged, with the most activity at the weekly 6/6 205-strike call during this time.
Though the $193 level has provided a floor for pullbacks over the last month, AAPL has plenty of overhead pressure to overcome on the charts, including at the 60-day moving average. Since the start of the year, the stock has shed 18.3%, though it's still hanging on to a small 3.8% year-over-year lead. Should today's news spark a rally, the 60-day trendline will be key.
