Option Movers | TSLA, MARA, and MSTR Maintain Bullish Sentiment; Traders Eye Another 10% Gain for SHOP

Market Overview

Wall Street's three major indexes closed lower on Tuesday (Nov. 12) as investors booked some profits from a post-election rally and waited anxiously for U.S. inflation data due this week.

Regarding the options market, a total volume of 49,427,522 contracts was traded, down 3% from the previous trading day.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $MARA(MARA)$, $META(META)$, $AMZN(AMZN)$, $PLTR(PLTR)$, $MSTR(MSTR)$, $AMD(AMD)$, $AAPL(AAPL)$, $SHOP(SHOP)$

Source: Tiger Trade App

$Tesla(TSLA)$ shares slipped 6.2% on Tuesday as part of a broader cooling off among the hottest trades following last week’s election of Donald Trump, though the Elon Musk-led electric vehicle maker remains far more valuable than it was prior to Election Day.

There are 2.77 million Tesla option contracts traded on Tuesday, down 31% from the previous trading day. Call options account for 62% of overall option trades. Particularly high volume was seen for the $340 strike call option expiring November 15, with 100,931 contracts trading. TSLA 20241115 340.0 CALL

$Marathon Digital(MARA)$, $MicroStrategy(MSTR)$, and other crypto-related stocks slipped on Tuesday as Bitcoin’s blistering rally appeared to take a pause. The world’s largest cryptocurrency hurtled toward the $90,000 milestone overnight, before easing back toward $86,000.

There are 561.9K Marathon Digital option contracts traded on Tuesday, down 40% from the previous trading day. Call options account for 76% of overall option trades. Particularly high volume was seen for the $30 strike call option expiring November 15, with 38,731 contracts trading. MARA 20241115 30.0 CALL

There are 510.3K MicroStrategy option contracts traded on Tuesday, down 38% from the previous trading day. Call options account for 65% of overall option trades. Particularly high volume was seen for the $350 strike call option expiring November 15, with 15,319 contracts trading. MSTR 20241115 350.0 CALL

Unusual Options Activity

Source: Market Chameleon

$Shopify(SHOP)$ shares jumped 21% on Tuesday after the Canadian e-commerce company posted better-than-expected results for the third quarter and gave an optimistic forecast for the holiday shopping season.

There are 470K Shopify option contracts traded on Tuesday, up 63% from the previous trading day. Call options account for 71% of overall option trades. Particularly high volume was seen for the $120 strike call option expiring November 15, with 39,720 contracts trading. SHOP 20241115 340.0 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.

Top 10 bullish stocks: $KVUE(KVUE)$, $SHOP(SHOP)$, $IREN(IREN)$, $NVDA(NVDA)$, $GRAB(GRAB)$, $BAC(BAC)$, $BTBT(BTBT)$, $NFE(NFE)$, $GME(GME)$, $CLSK(CLSK)$

Source: Market Chameleon

Top 10 bearish stocks: $AMZN(AMZN)$, $VALE(VALE)$, $GOOGL(GOOGL)$, $EQT(EQT)$, $META(META)$, $AMD(AMD)$, $AAPL(AAPL)$, $PDD(PDD)$, $LAZR(LAZR)$; $PFE(PFE)$

Source: Market Chameleon

If you are interested in options and you want to:

• Share experiences and ideas on options trading.

• Read options-related market updates/insights.

• Learn more about options trading if you are a beginner in this field.

Please click to join Tiger Options Club