Apple Computer (AAPL) is up $6.43 to $329.04 and helping to lift the tech-heavy NASDAQ out of a hole late Thursday. The NASDAQ fell to a low of 2,627.47 Thursday morning, but is now up 9.73 points to 2,678.92. Smart phone makers RIM and APPL are trading higher today and Apple shares might also be getting a lift from a forecast from CLSA, which said over 14 million iPads could be sold in the third quarter. Meanwhile, the options action in Apple is interesting. as the six most actively contracts expire at the end of this week. The Weekly 360 calls, which are very near-the-money, are the most actives. 39,400 traded. AAPL Weekly 320 puts, 325 calls, 325 puts, 315 puts, and 320 calls are heavily traded as well. These contracts have 1 day and thirty minutes of life remaining, and it appears that some investors are taking positoins and bracing for another sizeable move in Apple shares tomorrow.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.