The tariff exemption led to a surge in Apple's stock price, and bullish options trading yielded significant profits
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Apple's stock price surged due to the Trump administration's approval of smartphone tariff exemptions, rising as much as 7% on Monday, closing at $206.05. Options traders built a position in call options worth about $5 million on Friday, which had a paper value of approximately $14 million in Monday's early trading, an increase of up to 180%. This trade hopes for Apple's stock price to rise above $210 in the next two weeks, with a maximum potential profit of about $30 million
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