Apple (AAPL) tends to be one of the most heavily traded options chains, especially after the stock split this year. As popular as the stock is though, it doesn’t pay much of a dividend. That’s why a trader likely placed a large covered call trade last week.

The calls don’t expire until January of 2022, so the position is set to last a bit over a year and pay a yield of 4.8% while still allowing for the stock to appreciate up to $170. In this case, the covered call looks like it is being used to significantly enhance the yield from holding AAPL stock.