Apple Surges Over 3% as Legal Victory Unfolds—What’s Next?

Summary
• Apple (AAPL) trades at $237.08, up 3.2% intraday as of 6:42 PM ET
• Federal judge rules Google can retain default search engine payments to Apple
• Intraday high of $237.97 and low of $234.37 highlight volatile session

Apple’s stock is surging on a landmark antitrust ruling that preserves its lucrative partnership with Google. With the tech giant’s shares trading over 3% higher, investors are recalibrating expectations amid a pivotal legal development. The stock’s sharp rebound from earlier-year struggles—driven by tariff concerns and AI strategy skepticism—now faces renewed momentum as the ruling removes a key regulatory overhang.

Google Antitrust Ruling Fuels Apple’s Rally
A U.S. federal judge’s decision to block the Department of Justice’s demand for Google to divest Chrome and allow Alphabet to maintain default search engine payments to Apple has ignited a sharp rally in AAPL. The ruling preserves Apple’s $20 billion annual revenue stream from Google, a critical offset to ongoing tariff pressures. With the company having recently secured exemptions from Trump-era tariffs by pledging U.S. investments, this legal win removes a major near-term headwind, reinforcing investor confidence in Apple’s ability to navigate regulatory and geopolitical risks.

Options Playbook: Leverage AAPL’s Bullish Momentum
• 200-day average: 221.19 (below current price) • RSI: 50.15 (neutral) • MACD: 4.52 (bullish divergence) • Bollinger Bands: 212.28–241.88 (current price near upper band)

Apple’s technicals suggest a short-term bullish bias, with the 200-day average acting as a key support. The RSI’s neutral reading and MACD’s positive divergence indicate momentum is building. For options traders, the AAPL20250912C237.5 and AAPL20250912C240 contracts stand out. These calls offer high leverage (68.67% and 100.82%) and moderate delta (0.49 and 0.38), aligning with a continuation of the current rally. High turnover (4.1M and 7.1M) ensures liquidity, while implied volatility (23.08% and 22.80%) remains in a favorable range.

• AAPL20250912C237.5
- Code: AAPL20250912C237.5
- Type: Call
- Strike: $237.50
- Expiration: 2025-09-12
- IV: 23.08% (moderate)
- Leverage: 68.67% (high)
- Delta: 0.492994 (moderate sensitivity)
- Theta: -0.613422 (rapid time decay)
- Gamma: 0.044062 (high sensitivity to price swings)
- Turnover: 4.1M (liquid)
- Payoff at 5% upside: $10.12 per contract
- Why it works: High leverage and gamma make this ideal for a continuation of the rally, with theta decay manageable given the short expiration.

• AAPL20250912C240
- Code: AAPL20250912C240
- Type: Call
- Strike: $240.00
- Expiration: 2025-09-12
- IV: 22.80% (moderate)
- Leverage: 100.82% (very high)
- Delta: 0.383750 (moderate sensitivity)
- Theta: -0.509149 (rapid time decay)
- Gamma: 0.042702 (high sensitivity to price swings)
- Turnover: 7.1M (liquid)
- Payoff at 5% upside: $13.54 per contract
- Why it works: Extreme leverage amplifies returns if Apple breaks above $240, with gamma ensuring responsiveness to price swings. Theta decay is offset by the stock’s current momentum.

Aggressive bulls should target AAPL20250912C240 into a close above $240.

Backtest Apple Stock Performance

Position for the Next Move: Apple’s Legal Win Could Fuel Short-Term Gains
Apple’s rally is underpinned by a favorable legal outcome and a strategic shift in regulatory risk management. While the stock remains below its 52-week high of $260.10, the 200-day average at $221.19 and Bollinger Band upper limit at $241.88 suggest a short-term ceiling. Investors should monitor the $237.50 strike as a critical psychological level. Meanwhile, sector leader Microsoft (MSFT) is down 0.45%, highlighting Apple’s outperformance. Take profit on AAPL20250912C237.5 if $237.50 holds, and scale into AAPL20250912C240 if the stock breaks above $240.