Wall Street closed higher on Monday(Oct 28) ahead of a packed week of earnings from megacap companies and the final stretch before the Nov. 5 presidential election, while sentiment improved after energy supplies were not disrupted by weekend developments in the Middle East.
Regarding the options market, a total volume of 36,792,420 contracts was traded on Monday.
Top 10 Option Volumes
Top 10: $Tesla(TSLA)$; $Nvidia(NVDA)$; $SoFi Technologies(SOFI)$; $Ford(F)$ ; $Trump Media & Technology(DJT)$ ; $Apple(AAPL)$; $Marathon Digital Holdings Inc(MARA)$ ; $MicroStrategy(MSTR)$; $AMD(AMD)$; $GameStop(GME)$
Source: Tiger Trade App
SoFi Technologies is expected to report its Q3 results on October 29, Tuesday before the market opens, and investors will keep an eye on the firm's outlook, amid improving market conditions.
A total number of 654.45K options related to SoFi was traded, up 35% from the previous trading day. Call options account for 68% of overall option trades. A particularly high trading volume was seen for the $12 strike call options expiring Nov 1, with 48,236 options contracts trading. $SOFI 20241101 12.0 CALL$
Unusual Options Activity
Source: Market Chameleon
Shares of $Trump Media & Technology(DJT)$ rose 22% on Monday after Republican presidential candidate Donald Trump's Madison Square Garden event in New York.
A total number of 502.69K options related to DJT was traded. Call options account for 51% of overall option trades. A particularly high trading volume was seen for the $50 strike call options expiring Nov 1, with 23,114 options contracts trading. $DJT 20241101 50.0 CALL$
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 -2,936,394 shares of TSLA stock. The largest bearish delta came from selling calls. The largest delta volume came from the 01-Nov-24 Call, with traders getting short 1,021,966 deltas on the single option contract.
Top 10 bullish stocks:F, AAPL, AMD, PLTR, PFE, PYPL, META, AMZN, DAL, BAC
Top 10 bearish stocks: TSLA, NCLH, C, NVDA, GOOGL, CCL, SMCI, T, BA, GLW
Source: Market Chameleon
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$(SOFI)$ $(DJT)$ $(TSLA)$
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