The S&P 500 and Nasdaq posted record closing highs for a third straight day on Wednesday (June 12) after inflation data came in softer than expected, but the indexes ended off the day's highs as the Federal Reserve projected only one interest rate cut this year.
Top 10 Option Volumes
Top 10:$AAPL(AAPL)$; $NVDA(NVDA)$; $TSLA(TSLA)$; $GME(GME)$; $TSM(TSM)$; $BABA(BABA)$; $AMD(AMD)$; $AMZN(AMZN)$; $MSFT(MSFT)$; $META(META)$
Source: Tiger Trade App
$Apple(AAPL)$ briefly passed Microsoft as the most valuable company by market value on Wednesday, helped by two of Wall Street’s favorite words—artificial intelligence. Apple unveiled its “Apple Intelligence” artificial-intelligence strategy at the Worldwide Developers Conference on Monday.
It seemed to take investors a beat to warm up to the news, considering the stock slipped 1.9% on Monday before soaring 7.3% to $207.15 on Tuesday to a record high, its first since December 2023. Shares rose 5.9% on Wednesday and closed up 2.9% at $213.07 for a second consecutive record. They were still rising after hours.
A total number of 6224.05K options related to AAPL shares was traded, 6 times higher than the 90-day average trading volume. A particularly high trading volume was seen for the $220 strike call option expiring this Friday, with a total number of 446,701 option contracts trading as of Wednesday.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
$TSMC(TSM)$ shares rose 4.39% on Wednesday, giving it a market valuation of $897.25B. Berkshire's market capitalization stood at $884.75B, falling behind TSMC.
Taiwan Semiconductor Manufacturing Company will be a "beneficiary" of Apple's plans to enhance to its artificial intelligence capabilities, according to analysts at Bank of America Securities.
In a note to clients, the analysts said that the world's leading contract chipmaker will see increased demand from Apple for its semiconductors, many of which are used in AI applications. Apple is TSMC's biggest client, accounting for roughly a fourth of its revenue.
A total number of 882,738 options related to TSM shares was traded, 5.7 times higher than the 90-day average trading volume. Call options accounted for 86% of the total volume. A particularly high trading volume was seen for the $115 strike call option expiring this Friday, with a total number of 102,840 option contracts trading as of Wednesday.
Source: Market Chameleon
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: $NVDA(NVDA)$; $ORCL(ORCL)$; $TSM(TSM)$; $MARA(MARA)$; $AFRM(AFRM)$; $CIFR(CIFR)$; $PLUG(PLUG)$; $MSFT(MSFT)$; $WULF(WULF)$; $MU(MU)$
Top 10 bearish stocks: $BABA(BABA)$; $AAPL(AAPL)$; $AMZN(AMZN)$; $GME(GME)$; $AMD(AMD)$; $DJT(DJT)$; $FCX(FCX)$; $PLTR(PLTR)$; $LYFT(LYFT)$; $SOFI(SOFI)$
Source: Market Chameleon
Based on option delta volume, traders bought a net equivalent of 10,945,490 shares of $Nvidia(NVDA)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 14-Jun-24 125 Call, with traders getting short 1,573,494 deltas on the single option contract.
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