Decoding AppLovin's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bearish approach towards AppLovin (NASDAQ: APP), and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in APP usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 154 extraordinary options activities for AppLovin. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 44% bearish. Among these notable options, 56 are puts, totaling $4,184,156, and 98 are calls, amounting to $9,204,161.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $30.0 and $980.0 for AppLovin, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in AppLovin’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to AppLovin’s substantial trades, within a strike price spectrum from $30.0 to $980.0 over the preceding 30 days.

AppLovin 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
APP	CALL	SWEEP	BULLISH	10/17/25	$19.4	$18.8	$19.4	$675.00	$1.2M	313	407
APP	PUT	SWEEP	BEARISH	09/26/25	$13.9	$12.7	$13.9	$640.00	$330.8K	1.1K	1.0K
APP	PUT	SWEEP	BULLISH	10/03/25	$19.8	$19.6	$19.6	$630.00	$280.2K	262	297
APP	PUT	SWEEP	BEARISH	09/26/25	$28.9	$26.3	$28.9	$660.00	$260.1K	530	237
APP	CALL	TRADE	BEARISH	11/21/25	$108.8	$104.4	$105.5	$570.00	$211.0K	230	22

About AppLovin

AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin’s revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max. AppLovin’s primary tool for future growth is AXON 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.

Following our analysis of the options activities associated with AppLovin, we pivot to a closer look at the company’s own performance.

Present Market Standing of AppLovin

• Trading volume stands at 4,147,112, with APP’s price down by -1.23%, positioned at $634.03.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 41 days.

What Analysts Are Saying About AppLovin

In the last month, 5 experts released ratings on this stock with an average target price of $659.0.

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* An analyst from Jefferies has decided to maintain their Buy rating on AppLovin, which currently sits at a price target of $615.
* Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for AppLovin, targeting a price of $725.
* An analyst from Oppenheimer has decided to maintain their Outperform rating on AppLovin, which currently sits at a price target of $740.
* Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on AppLovin with a target price of $575.
* An analyst from Benchmark has decided to maintain their Buy rating on AppLovin, which currently sits at a price target of $640.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for AppLovin with Benzinga Pro for real-time alerts.