Unusual Put Option Trade in Apple (AAPL) Worth $2,964.00K

On August 29, 2023 at 10:08:32 ET an unusually large $2,964.00K block of Put contracts in Apple (AAPL) was bought, with a strike price of $170.00 / share, expiring in 143 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.48 sigmas above the mean, placing it in the 99.27th percentile of all recent large trades made in AAPL options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 6405 funds or institutions reporting positions in Apple. This is an increase of 43 owner(s) or 0.68% in the last quarter. Average portfolio weight of all funds dedicated to AAPL is 4.10%, an increase of 9.18%. Total shares owned by institutions increased in the last three months by 0.36% to 9,946,080K shares. AAPL / Apple Inc Put/Call Ratios The put/call ratio of AAPL is 0.87, indicating a bullish outlook.

Analyst Price Forecast Suggests 10.27% Upside

As of August 1, 2023, the average one-year price target for Apple is 198.70. The forecasts range from a low of 141.40 to a high of $252.00. The average price target represents an increase of 10.27% from its latest reported closing price of 180.19.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Apple is 413,641MM, an increase of 7.74%. The projected annual non-GAAP EPS is 6.36.

What are Other Shareholders Doing?

AAPL / Apple Inc Shares Held by Institutions

Berkshire Hathaway holds 915,560K shares representing 5.86% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 465,990K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 465,280K shares, representing an increase of 0.15%. The firm increased its portfolio allocation in AAPL by 8.69% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 352,024K shares representing 2.25% ownership of the company. In it’s prior filing, the firm reported owning 347,041K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in AAPL by 8.07% over the last quarter.

Geode Capital Management holds 291,538K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 285,171K shares, representing an increase of 2.18%. The firm increased its portfolio allocation in AAPL by 8.78% over the last quarter.

Price T Rowe Associates holds 226,651K shares representing 1.45% ownership of the company. In it’s prior filing, the firm reported owning 234,017K shares, representing a decrease of 3.25%. The firm increased its portfolio allocation in AAPL by 139.25% over the last quarter.

Apple Background Information
(This description is provided by the company.)

Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. It is considered one of the Big Five companies in the U.S. information technology industry, along with Amazon, Google, Microsoft, and Facebook. Its hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, the AirPods wireless earbuds, the AirPods Max headphones, and the HomePod smart speaker line. Apple’s software includes iOS, iPadOS, macOS, watchOS, and tvOS operating systems, the iTunes media player, the Safari web browser, the Shazam music identifier, and the iLife and iWork creativity and productivity suites, as well as professional applications like Final Cut Pro X, Logic Pro, and Xcode. Its online services include the iTunes Store, the iOS App Store, Mac App Store, Apple Arcade, Apple Music, Apple TV+, iMessage, and iCloud. Other services include Apple Store, Genius Bar, AppleCare, Apple Pay, Apple Pay Cash, and Apple Card. Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak’s Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple I and Apple II, grew quickly.

Additional reading:

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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