AAPL Options Signal Bullish Bias: Focus on $290 Calls as iPhone 17 Sales Surge

• AAPL trades at $282.52, down 0.57% from its 284.15 close, but sits above key moving averages.
• Call open interest dominates (3.48M vs. 2.41M puts), with heavy concentration at $290 and $287.5 strikes.
• Block trades hint at volatility: 880 contracts bought in the $240 call (expiring Oct 17) and 600 puts bought at $235 (expiring Sept 26).

Here’s the takeaway: options data and fundamentals align for a bullish bias, but near-term volatility from block trades and earnings could test resolve. Let’s break it down.

Bullish Sentiment Locked in $287.5–$290 Straddles

Options market activity screams conviction. This Friday’s top call open interest piles up at $287.5 (55,879 contracts) and $290 (44,527), while puts lag with just 23,945 at $280. The 0.69 put/call ratio isn’t just skewed—it’s a red flag for bears.

But here’s the twist: Block trades like the AAPL20251017C240 (880 contracts bought) and AAPL20250926P235 (600 puts bought) suggest big players are hedging or scaling positions ahead of key events. These trades don’t scream “top” but hint at a volatility spike before October’s expiration cycle.

iPhone 17 Sales Fuel the Fire

IDC’s report isn’t just another headline—it’s a catalyst. A 247M iPhone 17 shipment forecast and Loop Capital’s $325 price target validate the call-heavy options setup. The stock’s 14% gain since January? That’s not just momentum—it’s a narrative.

But don’t ignore the fine print. IDC’s warning about 2026 supply chain constraints and the 66.98 RSI (approaching overbought territory) mean this rally isn’t a straight line. The market’s pricing in optimism, but execution matters.

Trade Ideas: Calls for Conviction, Puts for Caution

For options traders:

• Bullish Play: Buy AAPL20251205C290 (this Friday’s $290 call). With OI at 44,527, this strike acts as a liquidity magnet. If AAPL breaks above its 284.73 intraday high, these calls could run.
• Conservative Play: Buy AAPL20251212C290 (next Friday’s $290 call) for a cheaper premium. The stock needs to hold above $273.79 (middle Bollinger Band) to justify this.
• Downside Hedge: Buy AAPL20251212P270 (next Friday’s $270 put) to cap risk. The 211.10–213.38 200D support zone is a last-ditch level to watch.

For stock traders:

• Entry near $282.32 (intraday low) if RSI dips below 60.
• Target $295 if the 285.52 upper Bollinger Band is cleared.
• Stop-loss at $273.79 to avoid a breakdown.

Volatility on the Horizon

This isn’t a “buy and forget” trade. The options market is pricing in a 10–15% move by December 12, fueled by iPhone 17 demand and AI progress. But watch for earnings (if any) or supply chain updates—either could shake the $290 ceiling.

Bottom line: AAPL’s options and fundamentals are in sync for a bullish push, but patience is key. The $290 calls are the most liquid and logical play, but don’t chase. Wait for a pullback to $273.79 or a breakout above $285.52, and you’ll have a clearer shot at the 325 target. Stay nimble—this stock’s not done moving.