On March 3, 2026, Apple Inc. (AAPL) exhibited a volatile "V-shaped" recovery during the trading session. The stock opened under pressure, descending to a daily low of $260.00 by mid-morning. However, buyers stepped in at this psychological support level, initiating a steady climb that reclaimed the Opening Range Low (ORL) and peaked at $264.80 in the afternoon. Using the LuxAlgo indicator, the price action shows a transition from a bearish morning phase to a neutral-to-bullish consolidation, with the stock ultimately settling at $263.57.
The derivatives market for the $262.50 strike (expiring March 4) saw intense two-way action as the underlying stock oscillated:
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$262.50 Call Option: These contracts mirrored the stock's afternoon strength. After bottoming out near $1.30 during the morning dip, the calls surged to an intraday high of $3.80 as Apple crossed back above the strike price. The LuxAlgo signals on the call chart highlighted a mid-day "buy" zone, with the premium eventually stabilizing at $2.67 by the market close.
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$262.50 Put Option: Conversely, put holders saw their morning gains evaporate. The puts peaked at approximately $3.50 when the stock hit its $260 low, but they entered a relentless decline as the recovery rally took hold. By the final hour, the puts had retreated to a daily low of $1.10 before a minor uptick to $1.39, reflecting a significant reduction in bearish premium as the stock stayed above the strike.
Technical indicators confirm this shift in sentiment. The MACD on the underlying stock showed a bullish crossover around 12:30 PM, coinciding with the breakout above the $262 level. While the stock faced some resistance near the Opening Range High (ORH) zone, the ability to hold the majority of its recovery gains suggests a period of short-term consolidation heading into the March 4 expiration.
