AAPL Options Signal Bullish Bias: 287.5 Call OI Surpasses 55k as CLSA Targets $330 by 2027

• AAPL trades at $279.25, down 0.52% from its 280.7 close, but remains above key 30D support at $269.69
• Call OI dominance (3.5M vs. 2.4M puts) highlights 287.5/290 strike clusters with 55k+ open interest
• CLSA just raised its target to $330, citing iPhone 17 momentum and AI integration plans

Here’s what’s happening: The options market is clearly leaning bullish, with 287.5 calls holding the highest open interest (55k) for Friday’s expiry. But here’s the twist – while the technicals and OI scream upside, the stock’s 0.5% dip today shows retail traders aren’t fully committed yet. Let’s break down why this could be a pivotal moment for AAPL.

Call OI Clusters at 287.5–290 Signal Institutional Bullishness, While Puts Hint at Cautious Hedging

The 287.5 call strike (OI: 55k) and 290 call (OI: 38k) form a tight cluster above current price, suggesting big money is positioning for a push toward CLSA’s $330 target. This isn’t just retail FOMO – the 290 strike has 38k contracts open for Friday’s expiry, showing urgency.

But don’t ignore the puts: 275 puts (OI: 11k) and 270 puts (OI: 5.9k) act as a safety net. This duality means smart money is hedging against a potential pullback to the 270–275 range. The block trades also tell a story – a 880-contract call buy at 240 strike (expiring Oct 17) and 600 put buys at 235 (Sept 26) suggest institutional players are locking in multi-month positions.

CLSA’s $330 Target and iPhone 17 Momentum Fuel Optimism, But AI Lags and Exec Exits Add Nuance

CLSA’s bold $330 call isn’t out of thin air. Apple’s fiscal 2025 revenue hit $416B, with iPhone 17 driving holiday sales. But here’s the catch: while hardware sales are strong, AI concerns linger. Execs like John Giannandrea and Alan Dye have left, raising questions about Apple’s AI race against Meta and Nvidia.

The prediction markets also show 18% chance Tim Cook steps down by March 2026 – leadership stability matters. Yet, Apple’s 35x forward P/E and services growth keep the bull case intact. Retail investors have been net sellers recently, but that could create a buying opportunity if the stock dips to 270–275.

Strategic Entry at $274.32 with 290C as Leveraged Play, 275P for Downside Protection

For stock traders: Consider entry near $274.32 (middle Bollinger Band) with a stop below 270 support. If the stock breaks above 281.14 intraday high, target 286.30 (upper Bollinger Band) as a near-term goal.

For options:

• AAPL20251212C290 (next Friday expiry): 41k OI shows strong positioning. Buy if AAPL closes above 282.5 today to lock in leverage
• AAPL20251212P275 (next Friday expiry): 3.9k OI offers downside protection if the stock dips to 270–275

Bullish Setup Confirmed, But Watch 270 Support as Volatility Nears Key Expiry

The next 48 hours will be critical. If AAPL holds above 270, the 290 calls become a high-conviction play. But if it breaks below 270, the 275 puts could see a surge in demand. Either way, the options market is pricing in a $300+ future – the question is whether the stock can get there before earnings reports and AI updates in Q1 2026.