Apple Computer (AAPL) adds 44.31 to $634.31 and the four most active options in the stock today are August calls. 44,600 August 640s have changed hands. August 635, 645 and 630 calls are the next most actives in Apple. A total of 214,000 August calls traded in AAPL, which seems like a lot since total open interest in the August calls on AAPL is about 284,000. Some investors are taking bullish positions and looking for the stock to continue its run higher through the remainder of this week. August options expire in a few days. The stock is on a four-day 2.4 percent winning streak and at its highest levels since April 11 — the day after Apple hit an intraday high of $644. The stock is now 1.4 percent below its record levels. Total call volume in AAPL on the session is about 390K and projected to top a half million contracts. Meanwhile, implied volatility in Apple options is around 20 percent and at the lower end of the 2012 range. A low of 17 was set on 2/3.
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.