Apple Options Carry 63% Call Premium Near 20-Day High

By Nathan Brooks

GTA Terminal’s latest TradingView scan of Apple Inc. (BATS:AAPL) put 63% of options premium in calls, versus 37% in puts, across 79 unusual contracts. The call allocation led puts by 26 percentage points and was nearly 1.7 times as large, making directionality the strongest feature in the latest options data.

Apple shares rose about 2.6% Monday to near 351, according to GTA Terminal, and moved back above their 20-day average. The stock traded within about 1% of both its 20-day and 52-week highs. It opened at 344.93, reached 351.35 and followed a Nov. 6 close of 342.37.

The technical setup favors momentum, but resistance remains intact

GTA Terminal’s daily chart showed Apple trading above four major averages, a configuration the source described as a stacked uptrend. The longer-term averages sat below the shorter-term measures, placing the current price above the group.

• 20-day average: GTA Terminal put the 20-day simple moving average at 343.90, which served as near-term support.
• 50-, 100- and 200-day averages: The levels were 336.65, 324.32 and 299.32, respectively, all below Apple’s price.
• Momentum: RSI 14 stood near 58. GTA Terminal said that left room before the measure reached overbought territory.
• Range: The 20-day range ran from 325.33 to 355.38. On Nov. 5, Apple reached 355.38 and reversed.

The 355.38 print is the immediate test because GTA Terminal labels it both the 20-day and 52-week resistance level. The reversal from that level on Nov. 5 shows sellers have already pushed back once this month. The current approach therefore differs from a confirmed breakout, even with call premium at 63%.

What does this change for Apple traders?

It sharpens the confirmation threshold. GTA Terminal’s framework requires a daily close above 355.38 while calls retain the premium lead to confirm a breakout to new highs. For traders, a call-heavy tape makes that move more credible, but it does not replace a closing-price signal.

GTA Terminal’s scan provides no strike, expiration, contract-price or total-premium breakdown, so the 63% share cannot establish how much money changed hands. GTA Terminal presents it as part of a technical confirmation system, not a standalone forecast. That distinction matters when Monday’s roughly 2.6% gain is measured against 355.38 resistance.

Dark pools do not confirm the move

Off-exchange trading offered no directional confirmation. GTA Terminal recorded 13,374,136 shares traded in dark pools on Nov. 6, only 0.8 times the 20-session normal. At 13.37 million shares, activity ran roughly 20% below normal, so the source called it “not heavy enough to read a direction from.”

GTA Terminal also said dark-pool volume was “not confirming yet.” The options skew pointed to bullish positioning; the off-exchange data neither verified nor contradicted it.

The levels that matter next

GTA Terminal set three decision points around the current price. Each level has a distinct role in the source’s framework.

• 355.38: The 20-day and 52-week high, and the level a daily close above would confirm a breakout to new highs if call premium remained in front.
• 343.90: The 20-day simple moving average and the first support level.
• 336.65: The 50-day simple moving average and GTA Terminal’s invalidation level.

Another rejection at 355.38, similar to Nov. 5, would keep Apple in its 20-day range. A break below 343.90 would weaken the setup, while losing 336.65 afterward would invalidate the read.

The next close

For Apple traders, the next daily close carries more information than Monday’s roughly 2.6% rise. A finish above 355.38 with call premium still leading would validate a break to new highs; a rejection followed by losses of 343.90 and 336.65 would erase the current bullish setup. GTA Terminal says the analysis is not financial advice.