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AAPL

Apple Inc.Close $270.23EOD only

Max Pain

$260.00

Next expiry Apr 20, 2026

Expected Move

±$3.44

1.3% from close

Price Gap

-10.23

Distance to max pain

IV Rank

100

High premium

P/C OI

0.68

Slightly call-heavy

Consensus

6.5/10

Consensus signal

Published snapshot: Apr 17, 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

Apr 17, 2026 close

AAPL Flow Report

Analysis based on market close April 10, 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 10, 2026. A newer flow report is available for April 17, 2026.

View latest report

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning)

Watch next session: Follow continued premium and OI flow at $255-$265 (especially additions at $265 call cluster); Volume/OI behavior in the 4/10-4/13 short-dated strikes: $260/$262.50 prints — whether they roll or delta-hedge unwind

Flow Summary

Net premium: +$115.0M bullish

P/C volume ratio: 0.69 — call-dominant (call-heavy intraday volume)

P/C OI ratio: 0.73 — moderate call lean in positioning

Clear institutional call-biased flow with large net premium ($115.0M) and positive GEX ($330.0M) that supports pinning around near-term strikes. The highest premium and OI activity is concentrated in the $255-$270 band with a structural call OI wall out at $280-$310, suggesting dealers are long gamma around spot and selling protection further OTM.

Notable Prints

AAPL 2026-04-10 $262.50 Call

Vol: 103,767

OI: 11,674

Vol/OI: 8.9x

IV: 7.6%

Notional: ~$1.04M (intrinsic/option premium minimal; large notional in contract count / delta exposure concentrated)

Intent: Large short-dated directional call accumulation or expiry-targeting flow (delta-seeking ahead of close).

Dual read: Aggressive bought calls (bullish) or dealer-printed closing/rolling activity (neutral to bullish if buys offset by shorts elsewhere).

Read-through: Concentrated short-dated call volume pushes dealer positive gamma at 262.50/$260 region — supports pinning and requires dealers to buy underlying on upticks, reinforcing upside pressure near-term.

AAPL 2026-04-10 $260.00 Put

Vol: 75,247

OI: 5,580

Vol/OI: 13.5x

IV: 3.8%

Notional: ~$1.13M (large contract count; low IV implies tight bid/ask expiry trades)

Intent: Expiry-related hedging or roll/closing (heavy volume into same-day expiry).

Dual read: Sell-to-close (profit-taking on previously short puts) or buy-to-close protective activity for short positions; could indicate delta-hedge activity rather than fresh directional bearish bets.

Read-through: The huge same-day put volume at-the-money likely reflects expiry mechanics. Net effect today still bullish because call premium dominates net premium; however these puts can create short-term pinning/volatility around spot intraday.

AAPL 2026-04-13 $260.00 Put

Vol: 11,154

OI: 631

Vol/OI: 17.7x

IV: 15.3%

Notional: ~$1.53M (meaningful short-dated exposure)

Intent: Near-term protective buying or roll from the 4/10 expiry into 4/13 puts (protective hedges across the upcoming week).

Dual read: Bought protective puts (bearish/hedging) or dealers selling premium (neutral).

Read-through: Significant activity in 4/13 puts indicates some participants are maintaining downside protection into the next expiry window — but overall call-dominant net premium suggests these are hedges against otherwise bullish positioning.

AAPL 2026-04-13 $255.00 Call (premium flow)

Vol: 604

OI: 1,005

Vol/OI: 0.6x

IV: 21.3%

Notional: ~$25.48M call premium (aggregate premium flow at this strike across expirations, see Top Premium Flow Strikes)

Intent: Institutional directional call buying and/or covered call selling on large underlying exposures.

Dual read: Net call accumulation (bullish) vs repositioning of long-dated exposures into nearer calls (neutral-to-bullish).

Read-through: Large premium flow at $255 (net call $25,476,825) is a primary driver of the bullish net premium and supports dealer pinning toward the $255-$260 neighborhood despite spot being above max pain.

Institutional Positioning

Call additions: $255-$270 concentrated in 3-4d expirations (largest premium at $255 and large OI/vol near $260-$265). Structural call OI wall further out at $280-$310.

Put additions: Some protective near-term puts (4/13 $260 and 4/10 $260 activity) and modest put clusters at $245 and $252.50; larger longer-dated protective interest exists deeper OTM but small in net premium terms.

GEX/DEX consistency: Yes — positive GEX $+330.0M and DEX +109.2M shares align with bullish flow and pinning around the $257-$262 range.

OI clusters: $265 call cluster (27,362 OI), $270 call (18,351 OI), $260 call (12,679 OI) create resistance band above spot; put clusters at $245 (12,567 OI) and $220 (12,082 OI) create lower support zones. Structural call OI wall: $280-$310.

Hedging evidence: Evidence of near-term protective puts (4/13 $260, 4/10 $260) consistent with participants hedging bullish exposures; limited collar evidence — dominant activity is one-way call premium.

Max pain context: Max pain pinned at $255 for multiple near expirations while spot trades above it; combined with positive GEX, this suggests dealers are buying underlying into weakness to keep spot near pin levels, reinforcing a short-term magnet below spot.

Signal vs Noise

~Large same-day expiry volume at 4/10 strikes (e.g., $260 puts and $262.50 calls) likely contains expiry closes/rolls and dealer delta-hedge flows — may not reflect fresh directional conviction.

~Very high-IV, deep OTM buys (e.g., 4/17 $140/$145/$155 puts) are likely tail-hedge/spec structures or pick-up of cheap lottery tickets — low immediate directional read-through for front-month price.

~Top premium at far OTM/far ITM strikes (e.g., $90 call premium flow) likely reflects corporate-level or structured-product repositioning and should not be read as straightforward retail directional buying.

Key Conclusions

🐂Net premium +$115.0M and P/C volume 0.69 indicate clear institutional call bias concentrated in the $255-$270 band.

📍Positive GEX $330.0M with concentrated GEX at $260 (+$34.4M) and $265 (+$18.8M) supports pinning near $257-$262.

🛡️Significant short-dated put prints at $260 (4/10 and 4/13) look like expiry hedging/rolls — watch how these unwind or roll into 4/13 for intraday pin risk.

🏛️Institutions appear to be adding calls at $255-$265 while leaving larger structural call OI out at $280-$310, creating an upside tail with potential resistance at those levels.

⚖️Max pain at $255 repeated across near expirations argues for a magnet just below spot; dealers' positive gamma means they will buy dips, biasing intraday flow to the upside.

How to Use These Reports

This flow reflects the market close on April 10, 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.