The S&P 500 and Nasdaq eked out record closing highs on Monday (June 10th), although investors were cautious ahead of this week's consumer prices report and a Federal Reserve policy announcement.
Regarding the options market, a total volume of 36,952,477 contracts was traded on Tuesday.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$; $AAPL(AAPL)$; $GME(GME)$; $TSLA(TSLA)$; $AMD(AMD)$; $AMZN(AMZN)$; $AMC(AMC)$; $PLTR(PLTR)$; $META(META)$; $CRWD(CRWD)$
Source: Tiger Trade App
$Nvidia(NVDA)$ started trading on a split-adjusted basis Monday. The 10-for-1 stock split in shares of Nvidia, the leader in artificial-intelligence chips, took effect Friday after the close of trading. The stock finished Friday at $1,208.88. In trading Monday, shares were up 0.8% to $121.79. Nvidia has risen 146% in 2024.
A total number of 5,172.13K options related to NVDA shares was traded, more than 3 times higher than the 90-day average trading volume. A particularly high trading volume was seen for the $130 strike call option expiring this Friday, with a total number of 175,570 option contracts trading as of Monday.
Source: Market Chameleon
$Apple(AAPL)$ shares closed down nearly 2% on Monday. The tech giant announced its new AI platform called “ Apple Intelligence” at the Worldwide Developers Conference on Monday, among a slate of other news.
But Wall Street - looking for more dazzling AI features and reassurance that would put Apple in good standing to compete on AI with market-leader Microsoft - was lukewarm on the event.
A total number of 1,675.32K options related to AAPL was traded. A particularly high trading volume was seen for the $200 strike call option expiring this Friday, with a total number of 168,027 option contracts trading as of Monday.
Unusual Options Activity
Source: Market Chameleon
Shares of $GameStop(GME)$ tumbled for a second consecutive session on Monday, extending deep losses after stock influencer Keith Gill's return to YouTube last week failed to spark fresh investor enthusiasm for the struggling shopping mall retailer.
Gill, known on YouTube as "Roaring Kitty," held his first livestream in three years on Friday, the day GameStop unveiled its second share sale in days.
On Monday, GameStop shares sank about 12% to $24.83, following a dive of nearly 40% on Friday after the company reported a drop in quarterly sales.
A total number of 1,037,673 options related to GME was traded. A particularly high trading volume was seen for the $20 strike put option expiring this Friday, with a total number of 45,847 option contracts trading as of Friday.
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: $TELL(TELL)$; $GOOGL(GOOGL)$; $MSFT(MSFT)$; $AMZN(AMZN)$; $HPQ(HPQ)$; $CRWD(CRWD)$; $TSM(TSM)$; $MBLY(MBLY)$; $HPE(HPE)$
Top 10 bearish stocks: $AAPL(AAPL)$; $DJT(DJT)$; $PLTR(PLTR)$; $NVDA(NVDA)$; $GME(GME)$; $FCEL(FCEL)$; $INTC(INTC)$; $TSLA(TSLA)$; $PFE(PFE)$; $CSCO(CSCO)$
Source: Market Chameleon
Based on option delta volume, traders sold a net equivalent of -4,831,178 shares of $Apple(AAPL)$ stock. The largest delta volume came from the 21-Jun-24 200 Call, with traders getting short 1,159,369 deltas on the single option contract.
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