AAPL Options Signal Bullish Bias: Key Strikes at $280 Call and $270 Put Highlight Breakout Potential

• Apple trades at $274.75, up 0.34% with volume surging to 9.8M shares.
• Options data shows heavy call open interest at $280 (31,336 contracts) and puts at $270 (14,375 contracts).
• Block trades hint at mixed bets: A $478K put block and an $880K call purchase signal strategic positioning.

The options market and technicals are painting a clear picture: Apple shows upside potential in the short term, but traders must watch for a potential pullback near key support. Let’s break down why.

The Battle at $280 and $270: What Options Reveal About Sentiment

The options chain is a chessboard of expectations. Right now, the $280 call (AAPL20260102C280) stands out with 31,336 open contracts—nearly double the next strike. This suggests institutional players are hedging or speculating on a near-term pop. Meanwhile, the $270 put (AAPL20260102P270) has 14,375 open contracts, indicating some caution below current levels.

But here’s the twist: The put/call ratio of 0.67 (favoring calls) isn’t just noise. It’s a sign that the market is pricing in optimism, especially with Apple’s 30-day moving average at $275.20 acting as a magnet. However, the RSI at 33.54 warns of oversold conditions—meaning a rebound could be imminent.

Block trades add intrigue. A $478K put block at $255 (expiring Sept 19) and an $880K call purchase at $240 (Oct 17) hint at large players hedging against volatility or locking in entry points. These moves don’t scream “catastrophe,” but they do suggest a desire to control risk as we head into 2026.

News Flow: China Demand and Legal Wins Fuel Optimism

Apple’s recent headlines are a mixed bag. The 128% surge in China’s foreign-branded smartphone shipments and the legal win blocking Masimo’s Apple Watch import challenge are tailwinds. These stories aren’t just feel-good news—they directly impact revenue streams in a market that’s 18% of Apple’s sales.

But the AI underinvestment narrative lingers. While Apple’s privacy-first approach has its fans, it also means the stock might lag peers like Microsoft or Google in a hot AI market. This could explain why the $300 call (AAPL20260102C300) has 13,150 open contracts—traders are betting on a future where AI-driven growth catches up.

Actionable Trade Ideas: Calls for Breakouts, Puts for Protection

For options traders, the $280 call (AAPL20260102C280) is a standout. If Apple breaks above its 30-day SMA at $275.20, this strike could see explosive demand. Entry: $2.50–$3.00 per contract. Target: $5.00 if the stock hits $285 by Jan 2.

On the bearish side, a put spread at $270 and $265 (AAPL20260102P270 + AAPL20260102P265) offers defined risk. If the stock dips below $273.43 (30D support), this spread could profit from a pullback.

For stock buyers, consider entries near $273.43 if the 30D support holds. A break above $277.15 (middle Bollinger Band) would validate the bullish case, with a target at $285. Stop-loss: $270.

Volatility on the Horizon: Balancing Bullish Momentum and Caution

Apple’s story in early 2026 hinges on execution. The options market is pricing in a $280+ breakout, but the AI narrative and China demand will need to keep delivering. Traders should monitor the $270–$275 range—a break below 270 would shift the script to defensive plays, while a close above 285 could ignite a new leg higher.

Bottom line: This is a stock at a crossroads. The data says buy the call, but hedge with a put. The next few weeks will tell if Apple’s bulls can outpace the bears—or if the AI gap becomes a real drag.

Final note: Always adjust stop-loss levels as the trade evolves. Market sentiment can shift faster than a Bollinger Band.