Apple Options Heat Up After Product Launch Event

Apple's stock options remain hot following its annual product launch event where it unveiled several new devices, including the iPhone 18 Pro and a foldable smartphone called the iPhone Duo.

The shares of Apple (NASDAQ:AAPL) have risen by 2.6% to $323.44 after the event, but are still down 42.9% year over year. BofA Global Research lowered its price target on AAPL to $370 from $380 following the event.

The options market is seeing significant activity with more than 8.3 million calls and 3.5 million puts exchanged in the past two weeks, according to Per Schaeffer's Quantitative Analyst Rocky White's list of most active stocks. The weekly 9/11 325-strike call has been particularly popular.

AAPL has seen a surge in call volume today, with 1.86 million calls traded already, which is double the intraday average. However, puts have been more popular than usual over the last 10 weeks, with AAPL's 50-day put/call volume ratio ranking in the 80th percentile of its annual range.