Wall Street's main indexes closed lower on Friday (Nov 15), with the S&P 500 and Nasdaq notching their biggest one-day losses in two weeks, on concerns about slower interest-rate cuts and as investors reacted to cabinet picks by U.S. President-elect Donald Trump.
Regarding the options market, a total volume of 61,484,192 contracts was traded on Wednesday.
Top 10 Option Volumes
Top 10: NVDA; TSLA; PLTR; AMZN; SMCI; AAPL; AMD; META; PFE; MSTR
Source: Tiger Trade App
Tesla shares jumped 3% on Friday. Members of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for fully self-driving vehicles one of the Transportation Department’s priorities, according to people familiar with the matter.
If new rules enable cars without human controls, that would directly benefit Elon Musk, the Tesla Inc. chief executive officer and Trump mega-donor who has become a powerful fixture in the president-elect’s inner circle. He has bet the future of the EV maker on self-driving technology and artificial intelligence.
A total number of 3.84 million options related to Tesla was traded, of which 56% were call options. The rally in TSLA stock spurred gains in related bullish options. The $320 strike call option expiring this Friday surged 43.85% on Friday.
Source: Tiger Trade App
Unusual Options Activity
Source: Market Chameleon
Palantir shares rose 11% on Friday. Palantir plans to switch its listing to the Nasdaq from the New York Stock Exchange, a change that the company expects to take effect on Nov. 26.
The move positions Palantir for more index eligibility, as Palantir anticipates meeting the requirements for the Nasdaq 100 index, which is made up of the largest non-financial companies listed on the exchange.
Investors can get excited about the prospect of new index entry because it means that funds tracking that index would have to buy Palantir shares. Addition into a high-profile index also serves as another sign of legitimacy to Wall Street.
Market sentiment for PLTR as of Nov 15 is quite bullish. Based on option delta volume, traders bought a net equivalent of 1,487,836 shares of Palantir stock.
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: DIS; PLTR; CVX; TSLA; PEP; INTC; WMT; AES; ENPH; SMCI
Top 10 bearish stocks: AMZN; META; PFE; AMD; C; NVDA; AMAT; MRNA; T; AAPL
Source: Market Chameleon
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