On September 14, new options trading for Apple Inc (AAPL) commenced, introducing both a $300 put contract and a $320 call contract. The $300 put has a current bid of $1.00, allowing investors to buy AAPL shares at an effective price of $299.00, a discount of approximately 5% to the current trading price of $316.58. Current odds suggest an 86% chance that this put contract will expire worthless.
Meanwhile, the $320 call contract, currently bidding at $4.35, would allow investors to lock in a selling price at that level, offering a potential return of 2.45% if exercised by the expiration date. The likelihood of this call contract also expiring worthless is estimated at 56%. Both contracts illustrate different strategies for investors looking to optimize returns in the current market.
Implied volatility for the put contract is at 26%, while the call has a slightly higher implied volatility of 28%. The actual trailing twelve-month volatility for AAPL stands at 25%, based on the last 250 trading days.
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