For more on options trading reactions to the rally, click the link at the top of the page to watch Options Action Live with CNBC contributors Michael Khoo and Brent Koczuba and host Oliver Rennick starting at 2:30 PM ET.
Jim Cramer is often seen saying he owns it. appledo not trade.
Days like Wednesday explain why.
Despite the temporary drop in profits, the company has shrugged off last week’s biggest tech sell-off since the coronavirus outbreak, a bear market in semiconductors and fresh worries about interest rate hikes, extending its 2026 rally to 30% and hitting a new all-time high.
Apple since the beginning of the year
Apple’s resilience continues to capture the attention of options traders looking for a safe haven in the tech space.
In the first half of Wednesday’s session, about 900,000 options were traded on Apple, with about 500,000 calls and 370,000 puts. Traders rushed into puts ahead of the company’s earnings this month, but as the stock rebounded, the put-to-call ratio fell from 0.95 to 0.87, with daily volume flowing into calls.
