Market Overview
The S&P 500 briefly surpassed the 6,000 mark on Friday (Nov. 8) and closed with its biggest weekly percentage gain in a year, as Donald Trump's election victory and a possible Republican Party sweep in Congress fueled expectations for favorable business policies.
Regarding the options market, a total volume of 56,742,576 contracts was traded, down 3% from the previous trading day.
Top 10 Option Volumes
Top 10: TSLA, NVDA, PLTR, SOFI, DJT, SMCI, AMD, AAPL, AMZN, MSTR
Source: Tiger Trade App
Tesla shares jumped 8% on Friday, pushing the electric vehicle maker’s market cap past $1 trillion. Investors bet that Donald Trump’s return to the White House can be a positive force for Elon Musk’s company.
There are 7.66 million Tesla option contracts traded on Friday, up 155% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $320 strike call option expiring November 8, with 365,491 contracts trading.
Palantir shares jumped 4.5% to another record on Friday. Palantir has been on a tear lately. The data analytics firm’s stock have soared 39.3% last week and has more than tripled (up 240%) year-to-date. The company gave a blowout earnings report last week.
There are 1.22 million Palantir option contracts traded on Friday, up 26% from the previous trading day. Call options account for 59% of overall option trades. Particularly high volume was seen for the $58 strike call option expiring November 8, with 67,828 contracts trading.
Unusual Options Activity
Source: Market Chameleon
Trump Media & Technology shares jumped 15% on Friday after President-elect Donald Trump said he won't sell Truth Social stock, and called for probe on rumors.
There are 686.5K DJT option contracts traded on Friday, up 11% from the previous trading day. Call options account for 61% of overall option trades. Particularly high volume was seen for the $30 strike call option expiring November 8, with 33,095 contracts trading.
SoFi Technologies shares jumped 9.3% on Friday, with two big forces behind the latest move. Upstart’s upbeat lending results could be giving SoFi investors more optimism, according to a Mizuho analyst. It sees SoFi’s stock action over the last few days as part of a “catch-up” Trump trade.
There are 689.6K SoFi option contracts traded on Friday, up 136% from the previous trading day. Call options account for 83% of overall option trades. Particularly high volume was seen for the $12.5 strike call option expiring November 8, with 61,411 contracts trading.
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: UPST, DJT, COIN, TSLA, PTON, IONQ, MPW, PLTR, GME, MARA
Source: Market Chameleon
Top 10 bearish stocks: NVDA, AMD, AMZN, LUMN, LCID, ACHR, PBI, ZI, RIOT; META
Source: Market Chameleon
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