Volume Spike Investor

Apple Inc. (NASDAQ: AAPL) is set to gap up this morning after yesterday’s small gain from a research call with a $260 price target.  The problem is that Apple has moved out of its 8 month up-trend or buy signals…. That alone doesn’t mean it will tank and the “SELL APPLE” audio-video call from our affiliate INO is still a “sit on the sidelines” call now.  But what we want to show is how Apple traders are now moving into stock options to get their exposure without owning the stock.  Here are the options trading volume levels from the DEC-2009 CALLS and PUTS from Tuesday and Monday.  This really feels as though traders are stretching to get that exposure and now its chart is in a technical no-man’s land.  We have more detailed price pivots below as well.

AAPL TUESDAY:
CALL$    Volume    OpInt
180.00    2,053    5,440
185.00    4,784    7,543
190.00    20,018    12,560
195.00    20,056    21,606
200.00    26,493    51,018
210.00    8,469    44,622
220.00    7,231    30,815
230.00    2,635    29,722
PUTS     Volume    OpInt
170.00    1,121    6,932
175.00    4,283    24,998
180.00    10,991    41,038
185.00    16,711    36,048
190.00    14,427    26,136
195.00    5,788    20,893
200.00    2,253    17,887

AAPL MONDAY:
CALL$    Volume    OpInt
180.00    3,642    5,440
185.00    8,600    7,543
190.00    17,415    12,560
195.00    22,906    21,606
200.00    31,369    51,018
210.00    13,685    44,622
220.00    3,063    30,815
230.00    868    29,722
PUTS     Volume    OpInt
165.00    1,840    6,072
170.00    2,726    6,932
175.00    5,193    24,998
180.00    12,808    41,038
185.00    15,806    36,048
190.00    17,952    26,136
195.00    9,343    20,893
200.00    3,256    17,887
210.00    1,307    10,127
220.00    255    1,266

We’d keep our eyes out on the stock today as the pre-market level at 8:27 AM EST is up 0.95% at $191.65 on almost 150,000 shares.  Yesterday’s intra-day high was $192.35 and the intra-day lows for yesterday and Monday were $188.70 and $188.68.  If Apple can get back above the $192.35 level today, then the prior intra-day high was $193.77.  Average volume is 18+ million shares and we have seen north of 25 million shares in four of the last five trading sessions.

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JON C. OGG