The Nasdaq and the S&P 500 gained on Thursday(Oct. 24), driven by Tesla's positive earnings forecast and a decline in Treasury yields from a three-month high, which buoyed market sentiment despite declines from some corporate results.
Regarding the options market, a total volume of 40,917,936 contracts was traded on Tuesday.
Top 10 Option Volumes
Top 10: $Tesla(TSLA)$; $Nvidia(NVDA)$; $SoFi Technologies(SOFI)$; $Apple(AAPL)$; $MicroStrategy(MSTR)$; $Super Micro Computer(SMCI)$; $AMD(AMD)$; $Amazon(AMZN)$; $Palantir(PLTR)$; $Mara Holdings(MARA)$
$Tesla Motors(TSLA)$’s shares rose 22% notching their biggest one-day gain since 2013 after the world’s largest electric vehicle maker reported higher than expected quarterly profit while forecasting “slight growth” in deliveries this year and a big jump in 2025.
A total number of 5.21 million options related to Tesla was traded. A particularly high trading volume was seen for the $260 strike call options expiring this Friday, with 218,768 options contracts trading. The $260 strike call option expiring this Friday surged 2650% on Thursday. $TSLA 20241025 260.0 CALL$
LendingClub stock soars 11% on Thursday. Strong earnings may bode well for SoFi and Affirm. $SoFi Technologies Inc.(SOFI)$ rose 5% on Thursday.
A total number of 767.11K options related to SoFi was traded, of which 58% were call options on Thursday. A particularly high trading volume was seen for the $10 strike put options expiring Nov. 1, with 83.35K options contracts trading. $SOFI 20241101 10.0 PUT$
Unusual Options Activity
$MicroStrategy(MSTR)$'s shares rose 10% on Thursday.
A total number of 451.06K options related to MicroStrategy was traded, of which 63% were call options. A particularly high trading volume was seen for the $230 strike call options expiring Oct. 25, with 28,728 options contracts trading on Thursday. $MSTR 20241025 230.0 CALL$
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 sold a net equivalent of -1,318,917 shares of $Alibaba(BABA)$ stock. The largest bearish delta came from buying puts. The largest delta volume came from the 25-Oct-24 Put, with traders getting short 539,986 deltas on the single option contract.
Top 10 bullish stocks: $Tesla(TSLA)$; $MicroStrategy(MSTR)$; $Lam Research(LRCX)$; $AMC(AMC)$; $Sunnova Energy Intl(NOVA)$; $Apple(AAPL)$; $Vale(VALE)$; $Trump Media(DJT)$; $Boeing(BA)$; $American Airlines(AAL)$
Top 10 bearish stocks: $SoFi Technologies(SOFI)$; $Alibaba(BABA)$; $Joby Aviation(JOBY)$; $Spirit Airlines(SAVE)$; $AMD(AMD)$; $Barrick Gold(GOLD)$; $Amazon(AMZN)$; $3M(MMM)$; $Alphabet(GOOGL)$; $IONQ Inc.(IONQ)$
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