AAPL Call OI Surges at $260–$265 While Puts Target $245–$250: Bullish Momentum with Hidden Risks

Current price of Apple (AAPL) is 255.17 as of April 2nd, 2026, down slightly from yesterday’s close of 255.63.

• Today’s intraday high is 255.72
• Intraday low is 250.65
• Volume is 16,288,055, a solid number for a stock with AAPL’s size.

The market is watching AAPL closely. Call open interest is significantly higher than puts (Put/Call ratio for open interest is 0.69), and that’s a bullish sign. But not all is smooth sailing—tariff concerns, satellite dependency risks, and AI delays are keeping some investors cautious.

What the Options Chain Tells Us

Take a look at the options activity—especially the OTM calls at $260 and $265. Both have heavy open interest (13,674 and 14,239 for this Friday, respectively), suggesting a strong conviction in a near-term move above $255. The next Friday options show a similar pattern, with $265 and $270 having the highest OI. That’s not noise—it’s a signal that traders are laying down bets for a rally.

On the put side, the most watched strikes are $245 and $250, both with over 4,000 OI. These are seen as key support levels by the options crowd. If AAPL breaks below $250, you can expect increased pressure toward $245.

Now, check out the block trades. One notable move is the purchase of 1,870 contracts at AAPL20260410C260 on the 10th. That’s a bullish signal, but it also tells us that some big players are positioning for a move above $260 before the week of the 10th. Conversely, the sale of 500 contracts at AAPL20260417C260 is bearish—someone is hedging or betting that the call buyers will lose ground.

How the News Shapes the Narrative

Apple’s recent earnings beat and strong iPhone sales show a resilient core business. But the satellite infrastructure risk with Amazon buying Globalstar is a new wildcard. That deal could disrupt Apple’s control over its satellite messaging features and increase long-term costs. Analysts are watching closely to see if Apple will pivot to alternatives like AST SpaceMobile or if it can negotiate from its financial strength.

Tariff risks are also a looming cloud. If 90% of iPhones are made in China, a big tariff hit could hurt demand and pricing power. That’s why we see a defensive tilt in the options market, with those put strikes at $245 and $250 acting as a hedge for a worst-case scenario.

Traders’ Playbook: Calls at $260–$265, Puts at $245–$250, and Stock Levels to Watch

If you’re bullish, consider buying the AAPL20260410C260 calls. With 1,870 contracts traded and strong OI, this is a popular strike. Entry is right around $255.17, and a move to $260 or higher would unlock gains. Exit near $265 or wait for the $270 level (especially if the 10th Friday trade plays out). These strikes are well-positioned if the AI news cycle or earnings momentum picks up.

If you’re hedging, or bearish on the satellite risk, the AAPL20260410P250 or AAPL20260410P245 could work. These strikes are near key Bollinger Band support areas and could offer downside protection if the stock breaks below $250. Keep an eye on the $244.77 lower band as a key psychological level.

For stock-only players, consider buying near $253.60 (the middle Bollinger band) if the stock holds above $250. A break below $250 would justify a more defensive stance. If you’re long AAPL, consider covering some risk with the $250 puts. If you’re short-term bullish, target entries near $253 or $255 and watch for a potential breakout above $260.

Volatility on the Horizon

AAPL is sitting in a tight range but showing short-term bullish momentum. The options data and block trades suggest a possible breakout to the upside, but satellite and tariff risks can’t be ignored. The next few days will be telling—especially with the 10th of April just a few days away. Traders who are prepared for both the bullish and bearish scenarios will be in the best position to capitalize. So keep your eyes on the $260–265 call strikes and $245–250 put levels—those are the key levels to trade the next few days.