Market Overview
U.S. stocks closed little changed on Thursday(Aug 3) after a choppy trading session, as investors weighed another rise in Treasury yields with the latest batch of economic data and earnings.
Regarding the options market, a total volume of 39,167,547 contracts was traded, down 14% from the previous trading day.
Top 10 Option Volumes
Top 10: $SPY(SPY)$; $QQQ(QQQ)$; $TSLA(TSLA)$; $Amazon.com(AMZN)$; $Apple(AAPL)$ ; $Advanced Micro Devices(AMD)$ ; $NVIDIA Corp(NVDA)$ ; $IWM(IWM)$; $PayPal(PYPL)$
Source: Tiger Trade App
Amazon.com shares surged when the online retailer forecast third-quarter revenue above Wall Street expectations, boosted by its Prime Day sale event in July that drew price-conscious consumers to its platform.
There are 1.36M Amazon option contracts traded on Thursday, up 127% from the previous trading day. Call options account for 60% of overall option trades. Particularly high volume was seen for the $140 strike call option expiring Aug 4, with 57,960 contracts trading.$AMZN 20230804 140.0 CALL$
Most Active Equity Options
Special %Calls >70%: $Robinhood(HOOD)$ ; $Alibaba(BABA)$ ; $Walt Disney(DIS)$
Data From CBOE Trader Alert, as of 4 August 2023 EDT
Unusual Options Activity
Source: Market Chameleon
PayPal Holdings tumbled 12.3% as investors were disappointed by the payments firm's quarterly operating margin, even as executives said they expect improvement.
There are 662.5K PayPal option contracts traded on Thursday. Call options account for 65% of overall option trades. Particularly high volume was seen for the $65 strike Put option expiring Aug 4, with 23,173 contracts trading.$PYPL 20230804 65.0 PUT$
TOP 10 Bullish & Bearish S&P 500
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 sold a net equivalent of -1,144,661 shares of Apple stock. The largest bearish delta came from selling calls. The largest delta volume came from the 04-Aug-23 190 Put, with traders getting short 592,555 deltas on the single option contract.$AAPL 20230804 190.0 PUT$
Top 10 bullish stocks: AMZN, MGM, INTC, PARA, BAC, EXPE, OXY, JNJ, CVX, CSCO
Top 10 bearish stocks: AAPL, DIS, TSLA, PYPL, T, NVDA, GOOGL, DVN, WFC, ETSY
Source: Market Chameleon
If you are interested in options and you want to:
Share experiences and ideas on options trading.
Read options-related market updates/insights.
Learn more about options trading if you are a beginner in this field.
Please click to join Tiger Options Club
$(AMZN)$ $(PYPL)$
Comments