Market Overview
Wall Street's main indexes closed higher on Thursday (Sep. 12) after the latest inflation data reinforced expectations for a 25-basis point rate cut by the Federal Reserve, while Moderna's weak revenue forecast made it the S&P 500's biggest percentage loser.
Regarding the options market, a total volume of 46,443,092 contracts was traded.
Top 10 Option Volumes
Top 10: Nvidia, Tesla, Apple, Broadcom, Amazon, Intel, Palantir, Meta, AMD, Microsoft
Shares of Broadcom rose 3.97% on Thursday. The stock had gained 20.12% this week.
There are 614.85K Broadcom option contracts traded on Thursday. Call options account for 58% of overall option trades. Particularly high volume was seen for the $165 strike call option expiring September 13, with 38,080 contracts trading. The $165 strike call option expiring this Friday surged 219% on Thursday. $AVGO 20240913 165.0 CALL$
Microsoft rose 0.94% on Thursday.
There are 276.08K Microsoft option contracts traded on Thursday. Call options account for 59% of overall option trades. Particularly high volume was seen for the $420 strike put option expiring September 13, with 14,172 contracts trading. $MSFT 20240913 420.0 PUT$
Unusual Options Activity
Unity shares up 9.81% on Thursday.
Unity Software is abandoning its "runtime fee" pricing policy, nearly a year after its announcement sparked considerable backlash from the videogame developer community.
The maker of the Unity Engine software said in a blog post on Thursday that it will revert to its "existing seat-based subscription model for all gaming customers" and implement price increases for its Unity Pro and Unity Enterprise subscriptions.
There are 146.20K Unity option contracts traded on Thursday. Call options account for 84% of overall option trades. Particularly high volume was seen for the $20 strike call option expiring September 20, with 11,419 contracts trading. $U 20240920 20.0 CALL$
Nio shares down 5.71% on Thursday.
There are 236.71K Nio option contracts traded on Thursday. Call options account for 71% of overall option trades. Particularly high volume was seen for the $6 strike call option expiring November 15, with 29,880 contracts trading. $NIO 20241115 6.0 CALL$
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.
Based on option delta volume, traders bought a net equivalent of 869,804 shares of C3.ai, Inc. stock. The largest bullish delta came from buying calls. The largest delta volume came from the 13-Sep-24 Call, with traders getting long 487,388 deltas on the single option contract.
Top 10 bullish stocks: Coca-Cola, Chevron, Public Storage, Nike, C3.ai, Microsoft, ZoomInfo Technologies, Unity, Meta Platforms, Ford
Top 10 bearish stocks: Nvidia, Gilead Sciences, Crown Castle, Tesla, BHP Group, Broadcom, Nio, Walmart, Alphabet, AES Corp
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