Global stock indexes mostly rose on Tuesday(Oct 29), with the Nasdaq scoring a record closing high ahead of key earnings reports this week, while Treasury yields hit multimonth highs early as the U.S. presidential election was just a week away.
Regarding the options market, a total volume of 37,893,663 contracts was traded on Tuesday.
Top 10 Option Volumes
Top 10: $Tesla(TSLA)$; $Nvidia(NVDA)$; $SoFi Technologies(SOFI)$; $AMD(AMD)$; $Trump Media & Technology(DJT)$ ; $Ford(F)$ ; $Pfizer(PFE)$ ; $MicroStrategy(MSTR)$; $Boeing(BA)$ ; $Snap Inc(SNAP)$
Source: Tiger Trade App
$Advanced Micro Devices(AMD)$ slid 8% in late trading after the chipmaker’s revenue forecast missed analysts’ estimates, a sign its artificial intelligence sales are growing more slowly than some had anticipated.
A total number of 969.6K options related to AMD was traded, up 168% from the previous trading day. Call options account for 68% of overall option trades. A particularly high trading volume was seen for the $165 strike call options expiring Nov 1, with 45,898 options contracts trading. $AMD 20241101 165.0 CALL$
Unusual Options Activity
Source: Market Chameleon
Google parent $Alphabet(GOOGL)$ topped third-quarter revenue and earnings expectations on Tuesday, helped by an AI-driven 35% surge in its cloud business as well as a jump in its digital advertising revenue. Alphabet shares were up 6% in after-hours trading.
A total number of 702.5K options related to GOOGL was traded, up 100% from the previous trading day. Call options account for 64% of overall option trades. A particularly high trading volume was seen for the $180 strike call options expiring Nov 1, with 49,799 options contracts trading. $GOOGL 20241101 180.0 CALL$
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 -1,226,038 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 590,398 deltas on the single option contract.
Source: Market Chameleon
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$(AMD)$ $(GOOGL)$ $(GOOG)$ $(TSLA)$
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