On March 2, 2026, Apple Inc. (AAPL) staged a significant intraday recovery after an early morning dip to a low of $260.20. The stock spent the majority of the session in a bullish "stair-step" climb, successfully reclaiming its 20-period SMA and reaching a daily high of $266.53 by mid-afternoon. Although the price moderated slightly toward the close, finishing at $264.25, the overall technical posture remained positive as the MACD stayed in bullish territory for the latter half of the day.
The derivatives market for the $262.50 strike contracts (expiring March 4) reflected this aggressive turnaround:
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Underlying Stock ($AAPL): The 1-minute chart shows that after the initial sell-off, a strong volume spike around 11:00 AM signaled the start of the reversal. The price action was remarkably consistent, holding above its short-term moving averages throughout the lunch hour and into the late-day peak.
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$262.50 Call Option: These contracts saw explosive volatility as the stock moved back into-the-money. After bottoming out at $2.50 at the market open, the calls surged over 100% to hit an intraday peak of $5.05. Despite a late-day fade in premium to $3.95, they significantly outperformed the underlying stock's percentage move.
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$262.50 Put Option: In contrast, the puts suffered a relentless collapse as the recovery rally intensified. These contracts gapped up to a morning high of $4.32 during the initial stock dump but cratered to a low of $0.97 as Apple's price stabilized above the strike. By the closing bell, the puts had lost 40.47% of their value, finishing at $1.53.
The session concluded with a neutral-to-bullish bias for Apple, as the late-day consolidation helped to shake out weak hands while preserving the gains from the mid-day rally.
