AAPL Options Signal $300 Call Contention as Block Trades Hint at Volatility Play – Here’s How to Position for 2026

• Apple (AAPL) trades -1.23% lower at $274.85, breaking below its 30-day support level of $278.61.
• Options market shows a 0.72 put/call open interest ratio, with heavy call OI at $300 and put OI at $230.
• Block trades reveal large put purchases and call accumulation ahead of December expiration, hinting at strategic positioning.

Here’s the core insight: AAPL’s options activity and technicals point to a critical inflection point. While the stock faces near-term bearish pressure, the options market is pricing in a potential rebound toward $300—driven by both speculative calls and institutional hedges. The key question isn’t if Apple will move, but which direction it’ll break first.

Bullish Pressure at $300 vs. Bearish Safeguards at $230

Let’s start with the options data. This Friday’s open interest shows calls at $300 (OI: 48,497) and $280 (OI: 37,923) dominate the upper end of the chain. That’s not just noise—it’s a crowd of traders betting on a rebound to pre-earnings levels. Meanwhile, puts at $230 (OI: 22,556) and $200 (OI: 21,589) suggest deep downside protection is being bought, likely by institutions wary of a broader tech selloff.

But here’s the twist: block trades tell a mixed story. The recent purchase of 880 AAPL20251017C240 calls (buy to open) signals aggressive bullish positioning, while two large put trades (AAPL20250919P255) hint at hedging activity. Think of it like a chess match—bulls are stacking chips on the table, but bears aren’t backing down.

News Flow: iPhone Growth vs. Valuation Concerns

Apple’s Q4 2025 results ($102.5B revenue, $1.85 EPS) and Q1 2026 iPhone forecasts are fueling optimism. The 50% revenue contribution from iPhones is a tailwind, but the stock’s 37.2 P/E ratio feels stretched. This creates a perception tug-of-war: retail traders see growth, while value investors see a bubble. The options data leans toward the growth camp, but don’t ignore the risk of a profit-taking selloff if earnings guidance misses.

Actionable Trade Ideas: Calls, Puts, and Precision Entries

For options traders, AAPL20251226C290 (next Friday’s $290 call) is a high-conviction play. Why? The stock is currently hovering near its 20-day EMA ($274.50), and a break above $276.30 (middle Bollinger Band) could trigger a rally toward $290. With implied volatility ticking up, this call offers leverage if the stock reclaims its 50-day MA ($274.497).

On the bearish side, AAPL20251226P260 (next Friday’s $260 put) acts as a cheap insurance policy. If the stock dips below $264.95 (lower Bollinger Band), those puts could surge in value. For stock players, consider entry near $276.30 if support holds—target $285 if the 30-day MA ($274.50) stabilizes. A stop-loss below $264.95 would protect against a deeper correction.

Volatility on the Horizon: Balancing Bullish Momentum and Bearish Safeguards

The next 72 hours will test AAPL’s resolve. A close above $278.61 (30-day resistance) could reignite the long-term bullish trend, while a drop below $264.95 might force a reevaluation of the 2026 narrative. The options market is already pricing in both outcomes—your job is to pick a side before the crowd does.

Remember: This isn’t just about Apple. It’s about how the broader market views tech valuations in a post-2025 world. Stay nimble, and let the data guide your bets—not the headlines.