U.S. stocks closed lower on Thursday as data on the labor market and comments from a U.S. Federal Reserve official reinforced expectations the central bank will be aggressive in hiking interest rates outweighed a flurry of solid corporate earnings.
The Dow Jones Industrial Average fell 90.22 points, or 0.3%, to 30,333.59, the S&P 500 lost 29.38 points, or 0.80%, to 3,665.78 and the Nasdaq Composite dropped 65.66 points, or 0.61%, to 10,614.84.
Options Broad View
A total volume of 37,082,060 contracts were traded on Thursday, up 1.18% from the previous day. Call options account for 53% of total options trades.
There are 7.24 million SPDR S&P 500 ETF Trust options traded onThursday. Call options account for 43% in overall option trades. Particularly high volume was seen for the $365 strike put option expiring October 21, with 300,458 contracts trading on Thursday.
Top 10 Option Volumes
Top 10: SPY, TSLA, QQQ, AAPL, IWM, NVDA, SNAP, AMZN, AMD, VIX
Tesla crashed 6.65% on Thursday after posting its financial results. It reported Q3 EPS of $1.05, $0.02 better than the analyst estimate of $1.03. Revenue for the quarter came in at $21.45 billion versus the consensus estimate of $22.5 billion.
There are 3,490,000 option contracts traded on Thursday, up 118.13% from the previous day. Call options account for 54% in overall option trades. Particularly high volume was seen for the $200 strike put option expiring October 21, with 182,748 contracts trading on Thursday.
AT&T Inc jumped 7.72% on Thursday after posting its Q3 financial results. It reported revenue of $29.64 billion and earnings per share of 68 cents. Further, it raised its full-year adjusted-earnings outlook to $2.50 a share or higher from a prior range of $2.42 to $2.46 a share.
There are 409,600 option contracts traded on Thursday, surging over 4 times than usual. Call options account for 45% in overall option trades. Particularly high volume was seen for the $18 strike put option expiring October 21, with 60,486 contracts trading on Thursday.
Oracle rose 4.45% on Thursday as it expects $65B in revenue by 2026. Before that, Piper Sandler analyst Brent Bracelin raised his rating to neutral from underweight and offered a price target of $70, noting that operating margins are below 40% and gross margins are at 74.5%.
There are 130,800 option contracts traded on Thursday, surging over 3 times than usual. Call options account for 67% in overall option trades. Particularly high volume was seen for the $70 strike call option expiring October 21, with 13,181 contracts trading on Thursday.
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: SPY, T, PBR, KWEB, BKLN, ERIC, PACB, EEM, MULN, QQQ
Top 10 bearish stocks: AAL, NIO, TQQQ, HYG, TZA, DKNG, VALE, LCID, TSLA, NFLX
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