Home Options AAPLReports

AAPL

Apple Inc.Close $304.99EOD only

Max Pain

$295.00

Next expiry May 22, 2026

Expected Move

±$2.74

0.9% from close

Price Gap

-9.99

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.71

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 21, 2026 close

End-of-day snapshot

This page reflects AAPL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 21, 2026 close

AAPL Directional Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

Bullish bias from strong dealer gamma ($805M) and bullish flow. Spot above max pain ($300) but within 1w EM range. Upside drift toward $310-$313.

Confidence:

8.5 / 10

Base 5 +2 GEX/flow aligned +1 GEX pinning -0.5 spot vs MP +1 VIX 16.7 = 8.5

Supports: GEX +$805M, bullish flow, low VIX, DEX +159M shares
Conflicts: Spot 3.8% above max pain, resistance at $310

🟢Dealer gamma ($805M) pins near $300-$310.

⚠️Spot 3.8% above max pain; $310 resistance may stall.

Regime Classification

Vol Regime

Normal

IV Normal, IV rank ~30%, VIX 16.7 low – supports gradual moves.

Gamma Regime

Pinning

GEX +$805M, dealer long gamma. Gamma flip $240 (22% below spot). No flip risk.

Flow Regime

Bullish

Net premium bullish, put/call skewed to calls.

Spot vs Max Pain

Above

Spot $310 vs MP $298-$300, 3.8% above – bullish but mean reversion risk.

Thesis duration: Multi-week — Structural dealer gamma and bullish flow support multi-week bias.

Price Range Forecast

Next 1 week

$303.92$313.73

Drift higher, supported by gamma; bias toward $313+

Next 2 weeks

$299.20$318.45

Resistance $318.45; upside bias with possible consolidation

Key Levels

Max pain pins: $298 (2026-05-22); $300 (2026-05-26); $300 (2026-05-27)

EM guardrails: 1w $303.92/$313.73

Support: $299.20 · $297.50

Resistance: $310.00 · $318.45 · $320.00

Gamma flip: ~$240.00 — Approx — based on put OI concentration of 58,239 (22.3% below spot)

Structural: Support $297.5-$299.2 (max pain). Resistance $310, $318.45. EM 1w $303.9-$313.7.

Dealer Positioning (GEX/DEX)

GEX: $+805.2M

DEX: +159.4M shares

Gamma flip: ~$240 (Approx — based on put OI concentration of 58,239 (22.3% below spot))

NTM gamma: GEX +$805.2M; DEX +159.4M shares. Gamma flip ~$240. Dealers long gamma.

IV Analysis

IV vs VIX: Ticker IV ~22% (IV rank 30 vs VIX 16.7) – slightly rich but low VIX aids call buying.

Term structure: Contango: 1m IV 22%, 2m IV 24%; no event kinks near term.

Skew: Positive skew (calls richer) from bullish flow. No standout vol arb.

Flow Analysis

Net premium: Net premium $383M bullish with 0.53 P/C vol ratio favoring calls.

Directional prints: 12.7 call 315 OTM 2026-05-26 — Vol 20553 vs OI 962 (21.4x). Aggressive OTM call buying, likely opened, bullish. 18.1 call 317.5 OTM 2026-05-29 — Vol 17000 vs OI 811 (21x). OTM call buying, bullish speculation. 12.4 call 312.5 OTM 2026-05-26 — Vol 15829 vs OI 757 (20.9x). OTM call opening, bullish bias.

Unusual: 13 put 307.5 OTM 2026-05-26 — Vol 13701 vs OI 168 (81.5x). Unusual OTM put sweep; could be hedging or bearish speculation. 25 put 270 OTM 2027-02-19 — Vol 10780 vs OI 147 (73.3x). Large long-term put opening, likely protective hedging. 11.4 put 310 ITM 2026-05-22 — Vol 76467 vs OI 1125 (68x). Massive put volume expiring today; likely opening, bearish tilt.

Risks & Catalysts

!Mean reversion to $300 if flow fades.

!Resistance $310-$313 may cap upside.

!VIX spike hurts long gamma.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-12 $310.00/$320.00 call spread Why now: Defined risk debit to capture upside with OTM call spread.	Resistance at $313; max loss if stock stalls.
Cash-secured put	Moderate	Sell 2026-06-12 $300.00 cash-secured put Why now: Collect premium with target entry near $300 support.	Stock drops below strike; assignment risk.
Long call	Moderate-Strong	Buy 2026-06-26 $320.00 call Why now: OTM call to capture drift with limited downside.	Time decay if stock moves sideways; resistance at $313.

Top Plays

Bull Call Spread

Buy 2026-06-12 $310.00/$320.00 call spread

Buy $310/$320 call spread for upside with capped loss.

Why this play: Best captures bullish drift to $310-$313 with defined risk; OTM spread leverages flow.

Debit: $3.40-$4.15

Max loss: $4.15

BE: $314.15

Mgmt: Exit at profit target $5.85 or if AAPL closes below $299.20.

Traders seeking bullish exposure with limited risk.

Long Call

Buy 2026-06-26 $320.00 call

Buy OTM $320 call to benefit from continued bullish momentum.

Why this play: Pure upside play on flow-driven drift; unlimited gain potential.

Debit: $3.67-$4.48

Max loss: $4.48

BE: $324.48

Mgmt: Set stop-loss at $299.20 or consider rolling if theta accelerates.

Aggressive traders comfortable with higher premium and time decay.

Cash-Secured Put

Sell 2026-06-12 $300.00 cash-secured put

Sell $300 put to profit from sideways to bullish move.

Why this play: Collects premium at support but less aligned with bullish bias vs. calls.

Credit: $2.76-$3.38

Max loss: $296.62

BE: $296.62

Mgmt: Buy back if spot drops below $299.20 or roll down to manage delta.

Neutral-bullish traders wanting income with assignment risk.

Watchlist Triggers

Entry Triggers

IFIF AAPL holds above $299.20 and bullish momentum continues → THEN enter 2026-06-12 $310/$320 bull call spread in $3.40-$4.15 debit range

IFIF AAPL breaks above $310 resistance → THEN buy 2026-06-26 $320 call at $3.67-$4.48

IFIF AAPL pulls back to $300 support → THEN sell 2026-06-12 $300 cash-secured put for $2.76-$3.38 credit

Adjustment Triggers

ADJIF AAPL nears $310-$313 without penetrating → THEN consider trimming long call or rolling spread up

Exit Triggers

EXITIF AAPL closes below $299.20 → THEN exit all bullish positions and buy back cash-secured put

EXITIF bull call spread reaches $5.85 → THEN take profit on the spread

Tactical Summary

Bullish drift to $310-$313. Key support $299.20. Add defined-risk bull call spread or aggressive long call on strength. Cash-secured put at $300 for income. Invalidation below $299.20. Manage profit at resistance $310-$313.

How to Use These Reports

This directional reflects the market close on May 22, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.