Apple hits a new record as options traders pile into calls
Apple set a new all-time high and stretched its 2026 rally to 30% as options traders piled in, treating the iPhone maker as a haven in a shaky tech market.
What happened
Apple set a new all-time high on Wednesday, extending its 2026 rally to 30%. The iPhone maker shrugged off the biggest tech selloff since Covid last week, a bear market in semiconductors, and renewed anxiety around interest-rate hikes.
Almost 900,000 options traded in the first half of the session — almost 500,000 calls and 370,000 puts. Traders had piled into puts ahead of earnings coming into this month, but as the stock bounced back, the put/call open-interest ratio fell from 0.95 to 0.87, with daily volumes flowing toward calls.
- 2026 rally30%
- Options traded, first half of sessionalmost 900,000
- Calls tradedalmost 500,000
- Puts tradedalmost 370,000
- Put/call open-interest ratio0.95 to 0.87
A haven in a shaky tech market
Apple's run stands out because it has come with little company-specific news. MarketWatch noted that the rally was driven more by the broader market than by any single announcement, as investors rotated out of AI hardware and toward names with leaner capital spending.
A week earlier, Apple rose 5.3% to $349.51 in its biggest single-day gain since May 2025, passing its previous all-time high of $348.91 set on October 29. At that close, Apple was worth $5.08 trillion, widening its lead over Nvidia, worth $4.82 trillion.
What traders are watching
CNBC's Options Action goes live at 2:30 p.m. ET with contributors Michael Khouw and Brent Kochuba to break down the flow. The session's tilt toward calls fits the haven theme: with AI hardware under pressure and rate-hike anxiety back on the table, traders are paying up for exposure to Apple rather than betting against it.
As Jim Cramer often puts it, you own Apple, you don't trade it. This post summarizes reported facts and our view of the risks involved. It is not a forecast and not investment advice.
