Apple Options Passing Open Interest (AAPL)

Posted in General, Options 
October 18th, 2010

Apple shares are trying to hold on to being profitable on the day and any close above $314.74 will mark a positive close.  The problem is that shares hit $319.00 this morning and the average volume of 19.7 million shares has just been surpassed by 1:00 PM EST.  At 1:11 PM EST we have 20.4 million shares having traded hands.  Traders and speculators are using NOVEMBER-2010 options as the ‘cheap way to trade’ to get upside or downside exposure in Apple and still have a month until expiration.  These are the NOV-2010 select calls and puts showing contract volume versus the prior open interest.

CALL$    Vol.    OpInt
300.00    8,000    26,904
310.00    13,449    30,886
320.00    23,004    20,653
330.00    25,077    22,085
340.00    17,751    13,885
350.00    14,731    10,573

PUT$    Vol.    OpInt
290.00    8,626    13,767
300.00    11,289    19,148
310.00    7,117    7,440
320.00    6,326    3,505

If you tallied just these few contracts without the thousands of other contracts around other strike prices, this would be more than 100,000 contracts in the calls alone.  That is another 10 million shares equivalent on a fully leveraged basis.

JON C. OGG

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