Apple paused for less than two weeks, and now the short-term
upside activity continues.
Weekly options that expire this Friday dominate options activity
in the tech giant have already traded more than 236,000
contracts. Volume at that single expiration month in AAPL is more
than total volume for every other company in the market except
for Bank of America.
Calls at the 605, 610, 615 and 620 strikes lead the action in
AAPL, with heavy buying across the board. Volume is above open
interest in all four strikes, indicating bullishness into the
close on Friday. AAPL hit a new all-time high and is up another
1.20 percent to $614.26 in afternoon trading.
Amazon.com is also drawing fast-money trades as buyers snap up
its weekly 205 calls, 210 calls and 215 calls. Weekly volume in
the e-commerce giant is approaching 48,000 contracts -- more than
27 times the average amount. AMZN rose 3.07 percent to $209.10.
Chinese Internet giant Baidu, which has been ripping after wake
of weekly call buying last week, sees more activity today at the
155 strike. Almost 8,000 of those have traded, roughly triple the
open interest. BIDU rose 0.79 percent to $151.99.
American International Group is also returning to our monitors
today as buyers snap up more than 10,000 March 31 calls. The
March 29s are now trading for about $1.40, more than triple their
$0.22-0.47 range yesterday. AIG rose 4.45 percent to $30.37.
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