Apple's record run ignites options flurry — Watch Options Action live

For more options-trading reaction to the rally, click the link at the top of the page for Options Action LIVE featuring CNBC contributors Michael Khouw and Brent Kochuba alongside host Oliver Renick beginning 2:30PM ET.

Jim Cramer is often found of saying that you own Apple, you don't trade it.

Days like Wednesday explain why.

Despite a brief earnings dip, the stock shrugged off the biggest tech selloff since Covid last week, a bear market in semiconductors, and renewed anxiety around interest-rate hikes, to extend its 2026 rally to 30% and a new all-time high.

Apple, YTD

Apple's resilience continues to catch the attention of options traders looking for a safe harbor in tech.

Almost 900,000 options traded on Apple in the first half of the session Wednesday – almost 500,000 calls and 370,000 puts. Traders piled into puts ahead of the company's earnings coming into this month, but as the stock bounced back, the put/call open-interest ratio fell from 0.95 to 0.87, with daily volumes flowing toward calls.