Wall Street's major indexes ended higher on Friday (Nov. 1), rebounding from the previous day's sell-off as Amazon's strong earnings countered a significant drop in U.S. job growth in October.
Regarding the options market, a total volume of 46,408,793 contracts was traded on Friday.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$; $Tesla(TSLA)$; $Amazon(AMZN)$; $Apple(AAPL)$; $Super Micro Computer(SMCI)$; $Intel(INTC)$; $MicroStrategy(MSTR)$; $AMD(AMD)$; $Trump Media(DJT)$; $Meta(META)$
On Friday after the market close, S&P Dow Jones Indices announced that the $NVIDIA Corp(NVDA)$ will replace fellow chipmaker $Intel(INTC)$ in the Dow Jones Industrial Average, the oldest U.S. stock index.
The switch will take place on Nov. 8. Also, Sherwin Williams will replace Dow Inc. in the index, S&P Dow Jones said in a statement.
Not surprisingly, Nvidia stock was up and Intel stock was down in Friday's after-hours trading session. Nvidia stock gained 2.9% while Intel stock lost 1.9%.
A total number of 3.45M options related to Nvidia was traded, of which 58% were call options. A particularly high trading volume was seen for the $136 strike call options expiring Nov. 1, with 214,599 options contracts trading on Friday.
A total number of 766.43K options related to Intel was traded, of which 65% were call options. A particularly high trading volume was seen for the $23 strike call options expiring Nov. 1, with 82,026 options contracts trading on Friday.
Unusual Options Activity
$Super Micro Computer(SMCI)$'s shares dipped 10.5% on Friday. The stock was -47% in its last three trading sessions, and now finds itself -8.4% YTD. Back on March 13, when it closed at a record level of $118.81/share, it was up +317.9% at that point.
A total number of 1.18M options related to Super Micro Computer was traded, of which 59% were put options. A particularly high trading volume was seen for the $27 strike put options expiring Nov. 1, with 40,813 options contracts trading on Friday.
$Trump Media(DJT)$ fell 13.5% on Friday.
Former President Donald Trump’s social media stock is plunging just ahead of the election, cutting deeply into his net worth. After the closing bell on Tuesday, shares were priced at $51, valuing Trump’s dominant stake in the company at about $5.9 billion. On Friday, the value of Trump’s shares tumbled to $3.5 billion. That means Trump lost $2.4 billion in net worth since Tuesday.
A total number of 566.02K options related to Trump Media was traded, of which 52% were put options. A particularly high trading volume was seen for the $30 strike put options expiring Nov. 1, with 28,206 options contracts trading on Friday.
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 -1,739,868 shares of $Tesla Motors(TSLA)$ stock. The largest bearish delta came from selling calls. The largest delta volume came from the 01-Nov-24 Put, with traders getting long 2,581,269 deltas on the single option contract.
Top 10 bullish stocks: $Citigroup(C)$; $AGNC Investment(AGNC)$; $Riot Platforms(RIOT)$; $Wells Fargo(WFC)$; $Mobileye Global(MBLY)$; $Coinbase(COIN)$; $Peloton(PTON)$; $Capri Holdings(CPRI)$; $New Gold(NGD)$; $Alight(ALIT)$
Top 10 bearish stocks: $SoFi Technologies(SOFI)$; $Tesla(TSLA)$; $Apple(AAPL)$; $Trump Media(DJT)$; $Mara Holdings(MARA)$; $Vale(VALE)$; $Snap(SNAP)$; $MicroStrategy(MSTR)$; $Intel(INTC)$; $Kinross(KGC)$
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