Apple (AAPL) traded a massive amount of options last week as the stock climbed to all-time highs, says Jay Soloff of Investors Alley.
AAPL options trade on average 1.4 million a day, which is already a huge number. However, on one day last week, nearly 3.4 million options contracts traded. 78% of the contracts were calls and that tends to be a bullish signal.
There were several large trades that looked like covered calls. Even though a covered-call strategy involves selling calls, it is typically considered a bullish position, especially when the calls are sold out-of-the-money.
Learn more about Jay Soloff at Investors Alley.