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Apple Stock Nears Massive Milestone [$3 Trillion Market Cap]

Hamartia Antidote

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FAANG stock Apple Inc (NYSE:SQ) is slightly higher this morning, last seen up 0.2% to trade at $180.62 ahead of Wall Street's open. Any movement in the positive direction is being monitored with enthusiasm, as AAPL needs only to trade at $182.86 per share for the company to achieve a $3 trillion market value for the first time. Earlier in the month, AAPL rose as high as $182.13.

Separately, the company announced the temporary closure of its 12 New York City retail stores to indoor customer traffic. This decision comes amid the Covid-19 omicron variant's rapid spread, and it's unclear how long the closures will last.

Apple stock rose above the aforementioned $182 level on Dec. 13 following speculation that headwinds may have been in the fold after a report that iPhone 13 demand had weakened. The 20-day moving average has helped push AAPL higher over the last month, with the security adding 15% in that time. Longer term, the stock is up 35.9% in 2021.

A shift in the options pits could help the shares hit their elusive goal, as options traders are pessimistic at the moment. This is per the equity's Schaeffer's put/call open interest ratio (SOIR) of 1.04, which stands higher than 98% of annual readings. This suggests short-term options traders have rarely been more put-biased towards AAPL.

Now could be a good time to weigh in on the stock's next move with options. Apple stock's Schaeffer's Volatility Index (SVI) of 26% stands higher than 26% of readings from the past year. This means options traders are pricing in low volatility expectations at the moment. What's more, the security's Schaeffer's Volatility Scorecard (SVS) sits at a high 95 out of 100. In other words, AAPL has exceeded option traders' volatility expectations during the last 12 months.
 
Wait until their AR glasses. If they get that right, Apples going to the Moon again.
 

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