What options are showing in Apple

optionMONSTER

Option volume in Apple has slowed a bit as it holds the gains of the last two days.

AAPL is down fractionally today at $647.51. It had been in positive territory at the open, adding to the gains of the week and making up for most of last week's losses.

Volume tops 330,000 contracts, about in line with AAPL's daily option average in the last month. Calls are more active with 196,000 contracts, and October at-the-money calls are seeing the most action. The 645 calls have traded more than 31,000 contracts but, unlike last week, most of the volumes are less than open interest.

Activity will likely acclerate leading up to the earnings report next Thursday. The implied volatility of the October options is 23 percent, which is in line with the 30-day historical volatility. The implied volatility is above 33 percent for the November options, though we will likely see lots of earnings action in the Weekly options that expire next week, which will begin trading tomorrow.

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