U.S. stocks closed modestly higher on Monday (Sept 23) as investors assessed whether a trend will develop in the week following the Federal Reserve's rate cut.
Regarding the options market, a total volume of 42,922,422 contracts was traded on Monday.
Top 10 Option Volumes
Top 10: NVDA; TSLA; AAPL; INTC; PLTR; AMZN; META; BABA; AMD; GME
Source: Tiger Trade App
Intel was up 3.3% on Monday. Apollo Global Management offered to make an investment of as much as $5 billion in the chip maker. The news follows a report from The Wall Street Journal that said Qualcomm had approached the struggling rival chip company in recent days about a takeover. Qualcomm shares were down 1.8%.
Intel shares have fallen 56% this year. The company last week said its contract-chip-manufacturing business will become an independent subsidiary, and last month announced a flurry of bad news - including cutting 15,000 jobs, suspending its dividend, issuing disappointing second-quarter earnings, and issuing weak guidance.
A total number of 674,076 options related to Intel was traded, of which 72% were call options. A particularly high trading volume was seen for the $23 strike call options expiring this Friday, with 53,835 options contracts trading as of Monday.
Source: Market Chameleon
Tesla gained 4.9%. Earlier in the session, shares of the electric-vehicle maker moved into positive territory for the year. Analysts at Barclays expect third-quarter deliveries of about 470,000 vehicles, compared with consensus forecasts of roughly 460,000.
A total number of 1.66 million options related to Tesla was traded, of which 64% were call options. A particularly high trading volume was seen for the $250 strike call options, with 197,636 options contracts trading as of Monday.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
JD.com jumped over 4% on Monday and continued to rally more than 7% in premarket trading on Tuesday.
China is weighing plans for a stock stabilization fund, and will unleash at least 800 billion yuan ($113 billion) of initial liquidity support for its beleaguered equity market.
A total number of 1.66 million options related to JD.com was traded, of which 80% were call options. A particularly high trading volume was seen for the $29.5 strike call options expiring this Friday, with 15,771 options contracts trading as of Monday.
Source: Market Chameleon
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: TSLA; WULF; AMZN; GME; NVDA; XPEV; LUV; IREN; F; AFRM
Top 10 bearish stocks: AMD; JD; META; AAPL; GOOGL; SOFI; GOOG; UEC; WMT; CORZ
Source: Market Chameleon
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