AAP’s Unusually Active $62.50 Call Isn’t a Covered Call. It’s a Bullish Bet on a Beaten-Down Stock.

Yesterday’s markets edged higher with all the major indexes in positive territory on the day.

The S&P 500 was up 0.4%, 0.5% from an all-time high, thanks to strong earnings from Morgan Stanley (MS). Meanwhile, the Nasdaq Composite gained 0.6% on decent moves by Alphabet (GOOGL), Apple (AAPL), and ASML (ASML).