Check Out What Whales Are Doing With AAPL

Author: Benzinga Insights | July 22, 2024 10:16am

Whales with a lot of money to spend have taken a noticeably bullish stance on Apple.

Looking at options history for Apple (NASDAQ:AAPL) we detected 27 trades.

If we consider the specifics of each trade, it is accurate to state that 48% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $84,061 and 24, calls, for a total amount of $1,897,054.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $230.0 for Apple, spanning the last three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Apple's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Apple's whale activity within a strike price range from $150.0 to $230.0 in the last 30 days.

Apple Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
AAPL	CALL	TRADE	NEUTRAL	08/16/24	$5.25	$5.15	$5.2	$230.00	$260.0K	48.6K	839
AAPL	CALL	TRADE	NEUTRAL	08/16/24	$5.5	$5.4	$5.45	$230.00	$246.8K	48.6K	2.3K
AAPL	CALL	TRADE	NEUTRAL	01/17/25	$72.6	$71.9	$72.19	$160.00	$223.7K	10.5K	78
AAPL	CALL	SWEEP	BEARISH	07/26/24	$6.4	$6.05	$6.05	$222.50	$176.0K	4.6K	0
AAPL	CALL	TRADE	BULLISH	12/19/25	$49.9	$49.8	$49.9	$200.00	$109.7K	6.6K	11

About Apple

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.

Having examined the options trading patterns of Apple, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Apple's Current Market Status

• With a trading volume of 6,667,669, the price of AAPL is up by 1.01%, reaching $226.57.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 10 days from now.

Professional Analyst Ratings for Apple

In the last month, 5 experts released ratings on this stock with an average target price of $257.8.

• Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $275.
• An analyst from Rosenblatt has elevated its stance to Buy, setting a new price target at $260.
• An analyst from Piper Sandler persists with their Neutral rating on Apple, maintaining a target price of $225.
• Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Apple, targeting a price of $256.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on Apple, which currently sits at a price target of $273.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Apple with Benzinga Pro for real-time alerts.

Posted In: AAPL