Market Overview
Wall Street's main indexes closed lower on Thursday (Nov. 14) after Federal Reserve Chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy.
Regarding the options market, a total volume of 53,460,533 contracts was traded, up 79% from the previous trading day.
Top 10 Option Volumes
Top 10: TSLA, NVDA, AAPL, AMD, GME, SBUX, AMC, AMZN, INTC, PFE
Source: Tiger Trade App
Shares of EV maker Tesla closed down 5.8% and Rivian dropped 14.3% after Reuters reported that Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation.
There are 3.05 million Tesla option contracts traded on Thursday, up 20% from the previous trading day. Call options account for 56% of overall option trades. Particularly high volume was seen for the $300 (about 4% lower than Thursday's closing price) strike put option expiring November 15, with 127,816 contracts trading. TSLA 20241115 300.0 PUT
There are 418.5K Rivian option contracts traded on Thursday, down 33% from the previous trading day. Call options account for 57% of overall option trades. Particularly high volume was seen for the $10.5 strike put option expiring November 15, with 26,912 contracts trading. RIVN 20241115 10.5 PUT
Unusual Options Activity
Source: Market Chameleon
Super Micro Computer shares sank 11.4% to $18.01 on Thursday, extending losses from Wednesday after the server maker said it needs additional time to file its quarterly 10-Q report.
There are 1.19 million Super Micro option contracts traded on Thursday, up 155% from the previous trading day. Put options account for 59% of overall option trades. Particularly high volume was seen for the $18 strike put option expiring November 15, with 31,035 contracts trading. SMCI 20241115 18.0 PUT
Disney shares jumped 6.2% on Thursday after the entertainment giant reported quarterly earnings that beat Wall Street's estimates and offered robust guidance for the coming years.
There are 580.4K Disney option contracts traded on Thursday, up 92% from the previous trading day. Call options account for 69% of overall option trades. Particularly high volume was seen for the $115 strike call option expiring November 15, with 26,122 contracts trading. DIS 20241115 115.0 CALL
TOP Bullish & Bearish Single Stocks
This report shows stocks with the highest volume of bullish and bearish activity by option delta volume, which converts option volume to an equivalent stock volume (bought or sold).
If we take the total positive option delta volume and subtract the total negative option delta volume, we will get the net imbalance. If the net imbalance is positive, there is more bullish pressure. If the net is negative, there is more bearish pressure.
Top 10 bullish stocks: GLW, MRK, INTC, AAPL, BA, MRNA, APTV, HON, MMM, WYNN
Top 10 bearish stocks: AMZN, NVDA, AMD, EMR, ABBV, GOOGL, PLTR, WMT, F; MSFT
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