Apple Inc (NASDAQ:AAPL) stock is propping up the Dow today, last seen up 4.3% to trade at $263.18, after the tech titan reported upbeat iPhone 17 sales in the U.S. and China. Evercore responded by adding Apple to its "tactical outperform" list, with the company "‘well positioned to report upside,' while Loop Capital chimed in with an upgrade to "buy" from "hold."
Options traders are are showing a bias toward calls. AAPL made its usual appearance on Senior Quantitative Analyst Rocky White's list of equities that attracted the highest options volume in the past two weeks. Per our records, Apple has appeared on this list every week for the last six months. In the last 10 sessions, the shares saw 4,931,726 calls and 2,449,264 puts exchanged, with the January 2026 290-strike call the top trade during this timeframe. Spread activity around November 265 and 220-strike calls is also popular.
Apple stock earlier hit a record high of $264.37, and is building some separation from its year-to-date breakeven level. How the shares hold this new level will be interesting to watch, given the channel of higher highs carved out of the April lows.
Earnings aren't until Oct. 30, so for now, it looks like a great opportunity to bet on the equity's next moves with options. AAPL sports a Schaeffer's Volatility Index (SVI) of 28% that sits in the 19th percentile of readings from the past 12 months, meaning premiums are affordably priced at this time. Plus, the stock's
Schaeffer's Volatility Scorecard (SVS) ranks at 79 out of a possible 100. This suggests Apple has usually exceeded options traders' volatility expectations.
