On Thursday, a substantial increase in options trading activity was observed, with a total volume reaching 72.3 million contracts. This surge resulted in a notable net growth in open interest, comprising 6.68 million calls and 5.35 million puts across the market.
Apache Corporation (APA) emerged as one of the key players, experiencing significant new positions. These included 105,000 weekly call options at a strike price of $15 and 100,000 weekly put options at a $14 strike price, both with a May 2023 expiration.
Other major companies such as NVIDIA (NVDA), Apple (AAPL, Financial), and Tesla (TSLA) also contributed to the increased activity. Tesla saw the creation of 69,000 weekly put options at a $130.01 strike price with an April 11 expiration. Meanwhile, Apple had 37,000 weekly call and put options opened at a $165 strike price, set to expire on April 25.
This heightened activity underscores the dynamic nature of the options market, reflecting investors' strategies and market sentiment around these key stocks.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 43 analysts, the average target price for Apple Inc (AAPL, Financial) is $239.85 with a high estimate of $300.00 and a low estimate of $165.00. The average target implies an upside of 25.96% from the current price of $190.42. More detailed estimate data can be found on the Apple Inc (AAPL) Forecast page.
Based on the consensus recommendation from 48 brokerage firms, Apple Inc's (AAPL, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Apple Inc (AAPL, Financial) in one year is $206.90, suggesting a upside of 8.65% from the current price of $190.42. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Apple Inc (AAPL) Summary page.
