Wall Street's main indexes closed lower on Thursday(Oct. 10) as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the U.S. economy and the path for interest rates.
Regarding the options market, a total volume of 40,734,292 contracts was traded on Thursday.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$; $Tesla(TSLA)$; $AMD(AMD)$; $Palantir(PLTR)$; $Apple(AAPL)$; $Amazon(AMZN)$; $Trump Media(DJT)$; $Super Micro Computer(SMCI)$; $Celsius Holdings(CELH)$; $Micron(MU)$
$AMD(AMD)$ stock fell about 4% on Thursday amid CEO Lisa Su unveiling new artificial intelligence processors at its Advancing AI 2024 event in San Francisco on Thursday, stepping up efforts to challenge market leader Nvidia.
A total number of 1.09M options related to $AMD(AMD)$ was traded, of which 71% were call options on Thursday. A particularly high trading volume was seen for the $170 strike call options expiring this Friday, with 77,639 options contracts trading on Thursday. $AMD 20241011 170.0 CALL$
Shares of $Trump Media & Technology(DJT)$ resumed their rally Thursday, climbing more than 17% with less than a month to go until the presidential election.
On Wednesday, Trump vowed to end "double taxation" for Americans living abroad, his latest tax policy of the presidential campaign. On Thursday, Trump Media, the operator of the social-media platform Truth Social, also launched an app for Android mobile devices to access its Truth+ TV streaming platform.
A total number of 427.39K options related to Trump Media was traded, up 134% from the previous trading day. A particularly high trading volume was seen for the $35 strike call options expiring this Friday, with 52,289 options contracts trading. $DJT 20241011 35.0 CALL$
Unusual Options Activity
$Celsius Holdings, Inc.(CELH)$ up 14% on Thursday after Stifel pointed to some positive developments from the National Association of Convenience Stores trade show.
Analyst Mark Astrachan said conversations with brand owners and retailers at the convention were more upbeat in tone on the potential for convenience store category sales to improve in 2025. Astrachan reminded investors that 62% of energy drink sales are from the convenience store channel. As for Q4, Astrachan said that while energy drink category trends will be impacted by weather in the southeast U.S., Stifel expects to see generally improving sales trends reflecting more favorable comparisons, innovation, and pricing.
A total number of 334.37K options related to Celsius Holdings was traded, of which 78% were call options. A particularly high trading volume was seen for the $35 strike call options expiring Oct. 11, with 34,767 options contracts trading on Thursday. The $35 strike call option expiring this Friday surged 1400% on Thursday. $CELH 20241011 35.0 CALL$
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.
Based on option delta volume, traders bought a net equivalent of 8,272,112 shares of $NVIDIA Corp(NVDA)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 15-Nov-24 Call, with traders getting short 1,161,814 deltas on the single option contract.
Top 10 bullish stocks: $Nvidia(NVDA)$; $Celsius Holdings(CELH)$; $Tiger Brokers(TIGR)$; $TeraWulf(WULF)$; $SentinelOne(S)$; $JD.com(JD)$; $Delta Air Lines(DAL)$; $Host Hotels & Resorts(HST)$; $CrowdStrike(CRWD)$; $Applied Digital(APLD)$
Top 10 bearish stocks: $AMD(AMD)$; $Amazon(AMZN)$; $iQiyi(IQ)$; $Nio(NIO)$; $Tilray(TLRY)$; $Oracle(ORCL)$; $Meta(META)$; $Pfizer(PFE)$; $Tesla(TSLA)$; $Apple(AAPL)$
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