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AAPL

Apple Inc.Close $308.82EOD only

Max Pain

$300.00

Next expiry May 26, 2026

Expected Move

±$3.54

1.1% from close

Price Gap

-8.82

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.71

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 22, 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 22, 2026 close

AAPL Flow Report

Analysis based on market close April 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 9, 2026. A newer flow report is available for May 21, 2026.

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Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.2% from MP

Watch next session: $255-$265 call flow (volume and OI movement around 4/13-4/17 expiries); Large put flow at $250-$262.50 (expiries 4/10-4/13) that would indicate defensive positioning

Flow Summary

Net premium: +$121.9M bullish

P/C volume ratio: 0.86 — modest call skew on volume

P/C OI ratio: 0.71 — call-lean positioning but not extreme

Flow is call-dominant in premium terms, concentrated in the near-spot 255–265 band and longer-dated/large structural calls at 280–310. Dealers hold meaningful positive GEX (+$328.1M) which supports pinning around nearby strikes; however mixed front-week put prints (notably activity into $250–$262.50 expiries) keep the overall read as neutral-to-bullish rather than outright bullish.

Notable Prints

AAPL 2026-04-10 $257.50 Call

Vol: 45,391

OI: 6,456

Vol/OI: 7.0x

IV: 31.5%

Notional: ~$16.07M

Intent: Fresh directional call buying / short-dated bullish directional exposure into the 4/10 expiry

Dual read: Aggressive buys (bullish) or short-call overwrites/reassigns (neutral) — size and high vol/OI ratio point to new or large add

Read-through: Large short-dated call demand pushes dealers to sell delta; combined with positive GEX this increases pin pressure around 255–265, supporting spot above max pain levels near $252–$255.

AAPL 2026-04-10 $257.50 Put

Vol: 36,404

OI: 3,647

Vol/OI: 10.0x

IV: 28.6%

Notional: ~$1.71M

Intent: Protective hedges or short-dated directional puts (defensive)

Dual read: Bought puts (bearish/protective) or sold puts as part of complex structures (neutral/credit trades)

Read-through: Heavy paired activity at the same strike both sides suggests short-dated structuring around 257.50 (e.g., straddle/strangle hedges or spread rolls) rather than a clear directional sweep.

AAPL 2026-04-10 $262.50 Put (ITM)

Vol: 6,821

OI: 540

Vol/OI: 12.6x

IV: 25.9%

Notional: ~$1.74M

Intent: Short-term downside protection (ITM put buys) or assignment-driven hedging

Dual read: Bought as a directional hedge vs stock exposure (protective) or sold as part of a roll from nearer strikes (less likely given ITM nature)

Read-through: ITM put flow into 4/10 expiry is defensive — if more ITM put volume appears, this would indicate institutional protection into the expiry.

AAPL 2026-04-13 $250.00 Put

Vol: 9,308

OI: 630

Vol/OI: 14.8x

IV: 25.7%

Notional: ~$176.9K

Intent: Protective puts for post-weekend exposure or a short-dated directional put buy

Dual read: Bought puts (protective/bearish) or sold as part of a structured trade (unlikely given high vol/OI ratio)

Read-through: Concentrated buy interest at strike near listed max pain ($250) — could be tactical insurance or a position looking for a move lower into near-dated expiries.

AAPL 2026-04-17 $237.50 Put

Vol: 11,281

OI: 976

Vol/OI: 11.6x

IV: 35.6%

Notional: ~$214.3K

Intent: Longer front-week downside hedge or speculative put buying

Dual read: Bought puts (directional bearish/speculative) or part of a longer-dated protective structure

Read-through: Higher IV and meaningful volume at a deeper strike implies selective hedging/speculation for a larger downside scenario beyond immediate pin range.

Institutional Positioning

Call additions: $255-$265 (notably $255.00 and $257.50) and larger structural OI concentrated in $280-$310 calls

Put additions: $250-$262.50 front-week puts show notable buys (4/10-4/13 expiries); smaller put clusters at $245 and $220 exist but activity is lighter

GEX/DEX consistency: Yes — positive total GEX (+$328.1M) and DEX (+109,953K shares) align with call-heavy premium and pinning behavior around mid-260s

OI clusters: Near-term call clusters: $265.00 (21,999 OI), $270.00 (16,333 OI), $260.00 (12,425 OI); Put clusters: $245.00 (12,906 OI), $220.00 (12,070 OI). Structural call wall at $280-$310 (high OI) may act as an upper resistance magnet.

Hedging evidence: Clear short-dated protective activity — ITM/near-ATM puts into 4/10-4/13 expiries and paired call/put prints at 257.50 imply institution-level hedging and structured trades rather than pure directional long-only call accumulation.

Max pain context: Max pain pins are clustered at $252–$255 for the immediate expiries while the MP trend is flat near $252; dealers' positive GEX supports pinning toward these levels as flows settle.

Signal vs Noise

~Heavy volume centered on 4/10 and 4/13 expiries — much of the front-week flow is consistent with expiration activity/rolls and short-dated hedging rather than long-term directional conviction.

~Paired large call and put prints at the same strikes (e.g., $257.50) suggest straddle/strangle or delta-hedging activity (dealer inventory management) rather than a single-direction bet.

~Large structural OI at $280-$310 is longer-term positioning (stock replacement/LEAP/collars) and not necessarily indicative of immediate directional flow inside the next week.

~Some premium at odd strikes (e.g., very low strike calls like $90 in Top Premium Flow) likely stems from corporate employee programs or large structured trades; treat as non-price-driving noise for near-term directional reads.

Key Conclusions

📌Pinning pressure: Positive GEX (+$328.1M) + concentrated near-term call premium at 255–265 increases chance of pinning mid-next-week.

🐂Call-dominant premium: Net premium +$121.9M and P/C volume 0.86 indicate a call-lean — supportive for neutral-to-bullish bias into expiries.

🛡️Defensive buying: Significant ITM/near-ATM put activity into 4/10-4/13 (262.50/257.50/250 strikes) shows institutions adding protection around current spot.

🧭Key levels to watch: support band near $252–$255 (max pain/GEX pins) and resistance cluster at $270–$280 (call OI wall).

⚖️Mixed signals: large short-dated expirations and paired call/put prints mean follow-through requires confirmation — watch net premium and P/C flows tomorrow.

How to Use These Reports

This flow reflects the market close on April 9, 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.

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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.