Option Movers | TSMC's Volume Surges 254%; Netflix Sees 51% Put Options Ahead of Earnings

Market Overview

The Dow Jones Industrial Average advanced on Thursday (Oct. 17) to its fourth record close in the last five sessions, as stronger-than-expected monthly retail sales indicated a robust U.S. consumer and TSMC's upbeat forecast buoyed chipmakers' stocks.

Regarding the options market, a total volume of 43,204,474 contracts was traded, up 9% from the previous trading day.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $TSM(TSM)$, $SMCI(SMCI)$, $AAPL(AAPL)$, $AMD(AMD)$, $AMZN(AMZN)$, $SOFI(SOFI)$, $MARA(MARA)$, $AVGO(AVGO)$

Source: Tiger Trade App

$TSMC(TSM)$ shares hit a record high on Thursday after the chipmaker topped quarterly estimates and raised its target for 2024 revenue growth, allaying concerns about global chip demand and the sustainability of an AI hardware boom. TSMC's market value reached $1.067 trillion, ranking it the 7th largest company in the U.S. by market capitalization, behind tech giants Apple, Nvidia, Microsoft, Alphabet, and Meta.

There are 960.2K TSMC option contracts traded on Thursday, up 254% from the previous trading day. Call options account for 65% of overall option trades. Particularly high volume was seen for the $195 strike call option expiring February 21, 2025, with 75,908 contracts trading.

Unusual Options Activity

Source: Market Chameleon

$Netflix(NFLX)$ beat wall street’s forecasts in every major metric. Sales for the period grew 15% to $9.83 billion, the company said in a Thursday, while earnings increased to $5.40 a share, and new subscribers topped 5 million. Netflix shares jumped 5% in extended trading.

Traders have made a bet ahead of Netflix's earnings. There are 277.5K option contracts traded on Thursday, up 274% from the previous trading day. Put options account for 51% of overall option trades. Particularly high volume was seen for the $600 strike put option expiring October 18, with 8,240 contracts trading.

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: $AMC(AMC)$, $GME(GME)$, $PFE(PFE)$, $SPWR(SPWR)$, $BNED(BNED)$, $PTEN(PTEN)$, $GSL(GSL)$, $TSM(TSM)$, $TEVA(TEVA)$, $ENPH(ENPH)$

Source: Market Chameleon

Top 10 bearish stocks: $INTC(INTC)$, $AAPL(AAPL)$, $AMZN(AMZN)$, $SBUX(SBUX)$, $DJT(DJT)$, $AMD(AMD)$, $MSFT(MSFT)$, $SHOP(SHOP)$, $SIRI(SIRI)$; $GOOG(GOOG)$

Source: Market Chameleon

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