In a significant display of investor confidence, the number of call options traded in Apple Inc. soared to its highest level since 2021, as shares of the tech giant bounced back from a Monday slump and reached a fresh all-time high. According to reports, Apple witnessed an impressive 2.4 million calls traded by 2:24 p.m. in New York, which is four times the average number typically exchanged in a single session over the past month.

This surge in call options outnumbered puts by a ratio of two-to-one, with the majority of activity concentrated on contracts set to expire on Friday. Analysts noted that the high volume of calls and shifts in implied volatility pointed towards "call buying alongside the move in the shares," as highlighted by Susquehanna International Group.

Investors seemed particularly drawn to Apple options after the company's shares experienced a temporary decline following its developer conference earlier in the week. Initially, the Wall Street was unimpressed by the firm's artificial intelligence plans, leading to a 1.9% drop in the stock during the session. However, on Tuesday, sentiment quickly reversed as investors reevaluated the event, a trend commonly seen after Apple announcements.

"This looks like yet another 'jump on the speculative momentum bandwagon' trade that's been impacting several names recently," noted Gareth Ryan, Managing Director at IUR Capital. He further commented, "The difference is Apple can actually justify it with the AI rollout. None of the meme-stocks could justify their price action."

The most actively traded calls in this surge had strike prices of $205 and $200. Interestingly, Apple's shares had already surpassed these strike prices by midday, indicating that the contracts were indeed lucrative.

This newfound surge in call volume signifies the strong investor appetite for Apple shares and their confidence in the company's recent advancements, notably its artificial intelligence rollout. As Apple continues to drive innovation and capture market attention, it will be crucial to monitor how these bullish trends unfold in the coming days and weeks.