Shares of Apple are back in rally mode today, and while the stock is off of its intraday highs (having tagged a fresh all-time high of $149.85 earlier), the shares are still about 2.5% higher on the session. Driving the security in today's trading was a note from a Citigroup analyst boosting the brokerage firm's target price from $160 per share to $185 per share. What's more, Citi also reiterated the shares with a buy.
Naturally, Citigroup is not the only Wall Street firm with a buy rating, as Zacks reports that 15 of the 19 analysts covering AAPL rate the shares a buy. However, despite this optimism among brokerage firms, options players are beginning to doubt the trend - which could have bullish contrarian implications for AAPL. For instance, the stock's Schaeffer's put/call open interest ratio (SOIR) continues to edge higher, and while the current reading of 0.89 ranks only in the 44th percentile, it ranks well above its September 12 reading of 0.76 in the 10th percentile.