NEW YORK (TheStreet) -- The seven-for-one split of Apple(AAPL) - Get Report effective Monday may provide a slight boost to earnings at online brokers E*Trade Financial(ETFC) - Get Report and TD Ameritrade(AMTD) - Get Report, according to a report from Nomura Securities analyst Steven Chubak.

Single stock activity for Apple "lagged relevant averages," in its first trading day after the split, according to Chubak. However, about 1.2 million options contracts traded, representing a roughly 270% increase compared to the 12-month daily average of 450,000 contracts.

Assuming that upsurge is sustained, Chubak estimates it would add about 2% to consensus 2015 earnings for TD Ameritrade and 1% to E*Trade.

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"While these figures are certainly not game-changing, we believe this potential benefit is not yet reflected in consensus; thus, any sustained increase in AAPL options activity is 'gravy' from our point of view, and should provide some additional revenue/earnings support," Chubak writes.

E*Trade shares were down 2.25% in late morning trading Tuesday to $20.67 while TD Ameritrade shares were lower by 1.09% to $30.76. Shares of both e-brokers gained on Monday.

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