Hundreds of BILLIONS of dollars in calls gone...
BUt these were purchased mostly by HEDGE FUNDS to short...and sold by shareholders to HEDGE and pocket tax deferred cash..
Last year, with the run from $400 to $700 the sellers of lower strike prices calls were shown how to trade up,,,but when it got to $600 WE said WHO CARES! The higher the more cushion for the pullback.
WE never thought AAPl would drop to these levels.But had $120 cash per share in out pockets from the three trades..so?...this drop while uncomfortable was not hurtful.