AAPL Options Signal Bullish Bias: Calls at $290 Dominate as Puts at $270 Hint at Risk

• AAPL drops 1.3% to $280.42, breaking below its 30-day moving average of $271.50.
• Call open interest (OI) outpaces puts 3:1, with heavy concentration at $290 and $287.50 strikes.
• Block trades show a $431K call buy at $240 and $192K put buy at $235—both hinting at strategic positioning.
• Loop Capital just raised AAPL’s price target to $325, citing stronger iPhone demand.

Here’s the takeaway: AAPL’s options market is leaning bullish, but the stock’s pullback to $280.42—just above its 200-day support—means traders need to balance optimism with caution. The key question isn’t if Apple will rally, but how to position for a potential rebound while managing downside risk.

Bullish Calls at $290 vs. Defensive Puts at $270

The options chain tells a story of conviction. For this Friday’s expirations, AAPL20251205C290 and AAPL20251205C287.5 dominate call OI, with 44,527 and 55,879 contracts outstanding, respectively. That’s not just noise—it’s a vote of confidence from institutional players expecting a rebound above $285. Meanwhile, puts at $280 and $277.50 (43,945 and 11,696 OI) suggest some hedging activity, but the put/call ratio of 0.69 (calls: 3.48M, puts: 2.41M) still tilts decisively bullish.

But don’t ignore the block trades. A $431,200 buy of AAPL20251017C240 (expiring Oct 17) and a $192K put purchase at AAPL20250926P235 (expiring Sept 26) show big players are locking in long-term exposure. That’s a green flag for patient traders.

News Bolsters the Bull Case—But Not All Is Smooth

Loop Capital’s $325 target and Brown Advisory’s Q3 hedge fund data (166 funds now hold AAPL) align with the options’ bullish bias. Apple’s $102.5B September revenue (up 8% YoY) is a solid foundation. Yet the mixed analyst ratings—from “Buy” at $300 to “Moderate Buy” at $289.49—mean the market isn’t fully unified. Retail investors might hesitate if AI stocks outperform, as Brown Advisory noted.

Actionable Trades: Calls for the Bold, Puts for the Pragmatic

For options traders, the AAPL20251212C290 (next Friday’s $290 call) is a prime candidate. With 39,789 OI and Loop Capital’s $325 target in play, this strike offers leverage if AAPL breaks above $285. Entry: $285–$287.50. Target: $295–$300. Stop-loss: below $280.

For stock traders, consider buying near $279.81 (today’s intraday low) if the 200-day support at $211.10 holds. A breakout above $285 would validate the bullish case. Alternatively, AAPL20251212P270 (next Friday’s $270 put) could hedge against a drop below $275, where Bollinger Bands’ lower band sits.

Volatility on the Horizon: Balancing Bullish Momentum and Near-Term Risks

AAPL’s technicals and options data point to a potential rebound, but the stock’s 1.3% drop today shows volatility isn’t gone. The key is to play the probabilities: use calls for upside exposure and puts to protect against a pullback. With Loop Capital’s $325 target and the 30-day hedge fund buying spree, the long-term trend remains intact. Just don’t ignore the 200-day support—it’s the last line of defense.

Bottom line: This is a stock with momentum on its side, but the path to $325 won’t be straight. Position yourself with a mix of aggression and caution, and let the data guide your next move.