AAPL Options Signal $300 Call Contingency as Short-Term Bearish Cloud Lingers – Here’s How to Play It

• AAPL trades at $272.31, caught between a short-term bearish engulfing pattern and long-term bullish moving averages.
• Options data shows heavy call open interest at $300 (48,848 contracts) and puts at $230 (22,631), with a put/call ratio of 0.71 (bearish bias).
• Block trades hint at institutional hedging: A $478K put block and an 880-lot call buy at $240 suggest mixed positioning.

The market is torn between a long-term bull case and near-term profit-taking. Here’s why AAPL’s upside potential is real, but short-term volatility could test $267 support first.

What the Options Chain Reveals About Market Sentiment

The options market is a chessboard of bets. Right now, calls at $300 dominate open interest (48,848 contracts), while puts at $230 (22,631) signal a fear of a sharp drop. This imbalance—combined with a put/call ratio of 0.71—hints at a bearish near-term outlook. But don’t dismiss the bulls: the $280 call (47,099 OI) and $285 call (32,355 OI) show lingering optimism about a rebound.

Block trades add intrigue. A $478K put block at AAPL20250919P255 (expiring Sept 19) and an 880-lot call buy at AAPL20251017C240 (Oct 17 expiry) suggest big players are hedging or scaling up. The key takeaway? Volatility is priced in, and a breakout above $278.61 (30D support) could trigger a short-covering rally.

How Recent News Shapes the Narrative

Analysts are split. Mizuho and Morgan Stanley just slapped on Buy ratings with $315 targets, but Barclays’ Sell rating and insider selling (Chris Kondo’s $1M+ exit) add friction. The good news? Earnings beat estimates ($1.85 EPS vs. $1.74) and $102B revenue prove Apple’s core business is resilient. The bad? Foldable iPhone delays and a 3.6% stake reduction by Bank of New Hampshire hint at near-term headwinds.

Here’s the rub: bullish fundamentals and bearish options sentiment are colliding. Retail traders might be fading the short-term dip, while institutions are hedging for a potential earnings-driven rebound in early 2026.

Actionable Trade Ideas for TodayFor Options Traders:

• Bullish Play: Buy AAPL20251226C280 (next Friday expiry, $280 strike). If AAPL breaks above its 200D MA ($229.54) and holds $267.13 (Bollinger lower band), this call could capitalize on a rebound toward $278.61 (30D support).
• Bearish Play: Buy AAPL20251226P260 (next Friday expiry, $260 strike). A drop below $266.96 (intraday low) could trigger a test of $267.13 support, with this put profiting if the stock closes under $260 by Dec 26.

For Stock Traders:

• Entry near $267.13 (Bollinger lower band) if RSI (39.69) holds above 30. Target: $278.61 (30D support).
• Stop-loss below $266.96 (intraday low) to avoid a breakdown.

Volatility on the Horizon

The next 72 hours will test AAPL’s resolve. A close above $273.62 (intraday high) could reignite the long-term bullish trend, while a breakdown under $267.13 might force a retest of the 200D MA. Either way, the options market is pricing in a $300 call contingency—a bet that Apple’s innovation edge will outpace near-term noise.

Final Take: This isn’t a clean breakout scenario. It’s a tug-of-war between short-term profit-taking and long-term conviction. If you’re trading, stay nimble. Use the $267.13 level as your floor, and let the $300 calls act as a ceiling indicator. And remember: Apple’s story isn’t over. It’s just hitting a speed bump.