On February 24, 2026, Apple Inc. (AAPL) delivered a powerful bullish performance, opening with a massive gap up from the previous session's close. The stock surged in the early morning to hit a daily high of $274.89 within the first hour of trading. This aggressive move was supported by a strong opening MACD crossover and heavy initial volume, as the stock cleared its 20-period moving average with ease. While the price moderated slightly in the afternoon, it found firm support around the $271.53 level, maintaining most of its morning gains.
The derivatives market for the $267.50 strike (expiring Feb 27) saw extreme price action as a result of this gap. The Call options skyrocketed from an early low of $2.42 to a peak of $8.42—a gain of over 114%—as the underlying stock pushed deep into "in-the-money" territory. Despite a gradual decline in option premiums during the afternoon consolidation, the calls remained highly profitable, closing the day with a strong positive percentage change.
In contrast, the Put options for the same strike were decimated. Opening at a high of $4.04, the puts collapsed as Apple’s stock price stayed well above the strike price throughout the session. By mid-day, the value of these puts had cratered to a low of $1.00, representing a 66.83% loss. The technical setup for the puts remained bearish all day, with the MACD staying pinned in negative territory, reflecting the market's clear preference for the upside move in Apple.
