Here's what the biggest Apple options traders did last quarter

One made a market in Apple. The other was its lead underwriter.

Once a quarter, with the release of the SEC forms 13F, we get a peek into the churning money machine that is the trade in Apple securities and options.

Yesterday we looked at the biggest buyers and sellers of the underlying stock.

The options market—the trade in puts and calls—is a lot more complicated.

To give you a feel for what it looks like, I give you, in a pair of interactive charts, a visual summary of the activity of two of the biggest players in that market: Susquehanna International and Goldman Sachs.

Not seeing the graphics? Try the website.

What I can see is that Susquehanna sold a lot of stock and puts and bought a lot of calls. Goldman sold puts and bought both stock and calls. What this means, I leave to the readers here who understand this stuff far better than I.


  1. John Blackburn said:
    Thanks, Philip.

    Small typo: the parenthetical caption in the Goldman Sachs chart beneath “AAPL Calls” should be “Contracts to buy…”.

    May 18, 2016

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