AAPL Options Signal Bullish Bias: Key Strikes at $280 Call and $230 Put Shape Volatility Playbook

• Current price: $270.83 (down 0.5% from $272.19)
• RSI at 37.55 (oversold territory)
• Put/Call OI ratio: 0.706 (calls dominate)

Here’s the thing: Apple’s options market is sending a mixed but actionable signal. While the stock dips today, the OTM call-heavy positioning and recent news suggest a short-term rebound could be brewing—if you know where to look.

Where the Money’s Flowing: Calls at $280, Puts at $230 Define the Battleground

Let’s start with the numbers. The $280 call (AAPL20251219C280) has 40,587 open contracts this Friday, while the $230 put (AAPL20251219P230) leads puts with 22,631. That’s not just noise—it’s a roadmap. Traders are betting on a rally to $280 but hedging against a worst-case drop to $230. The block trades add intrigue: a $255 put (AAPL20250919P255) saw $950k in turnover, hinting at institutional hedging. Meanwhile, a $240 call (AAPL20251017C240) with 880 contracts traded suggests some are already positioning for a rebound.

News That Could Tip the Scales: Earnings Pop vs. EU Headwinds

Apple’s Q4 earnings ($110.5B revenue) and $90B buyback are tailwinds. But the EU fine ($1.2B) and iPhone 16 delay complicate things. Here’s the rub: the market already priced in most of the good news (like the M4 MacBooks and AI acquisition). The bad news? It’s still a wildcard. If the EU ruling shakes investor confidence, the $230 put level becomes critical. But if the stock holds above $267.85 (lower Bollinger Band), the bulls have a shot at reclaiming $278.61 (30D resistance).

Trade Ideas: Calls for the Rebound, Puts for the Safety Net

For options: Buy the AAPL20251219C280 if AAPL breaks $272.92 (intraday high). Target: $280–$285. Why? The 40,587 OI at $280 means liquidity is there if the move happens. For the downside, a bear put spread using AAPL20251219P270 and AAPL20251219P265 could cap losses. The $270 put has 20,008 OI—enough to catch a dip without overpaying.

For stock: Consider entry near $270.27 (intraday low) if support holds. Target: $278.61 (30D resistance). Stop-loss below $267.85 (lower Bollinger Band). Why? The RSI at 37.55 suggests a rebound is due, and the 30D MA at $274.94 acts as a floor.

Volatility on the Horizon: Watch the $280–$230 Range

The next 72 hours will tell a lot. If AAPL closes above $275 by Friday, the $280 call could ignite. But if it breaks $267.85, the $230 put becomes a psychological floor. Either way, the options market is pricing in a volatile finish. Your move? Stay nimble—long calls for the pop, or a short-term put spread to hedge. The key is to act before the $270.83 level gives up its ground.