Apple Computer (AAPL) is off $7 to $603 and giving back some of yesterday’s post-earnings surge. Weekly (4/27) options on the stock continue to see heavy trading. The 610s, which were precisely at-the-money at the close of trading yesterday, are the most actves in AAPL and also the most actively traded options contract across the entire market in the first 90 minutes of trading. More than 27,000 changed hands. Weekly out-of-the-money 605 puts and 615 calls are busy was well. In fact, the dozen most actives in Apple today are the soon-to-expire weekly contracts and more than half (54.6%) of the total options volume (340K) in Apple is Weekly options. Meanwhile, 30-day ATM implied volatility, which fell 28 percent to 31 yesterday, is easing to 30 today.
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.