Option Movers｜MSTR $1080 Call Shows Heavy Concentration; RIVN Sees 76% Call Options on Series of Good News

Wall Street's main indexes ended higher on Monday(Nov 25), with the small-cap Russell 2000 index hitting an all-time high after Scott Bessent's nomination as U.S. Treasury secretary helped push bond yields lower.

Regarding the options market, a total volume of 50,685,653 contracts was traded on Monday.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$; $TSLA(TSLA)$; $SMCI(SMCI)$; $AAPL(AAPL)$; $PLTR(PLTR)$; $MARA(MARA)$; $MSTR(MSTR)$; $AMZN(AMZN)$; $AMD(AMD)$; $Rivian Automotive, Inc.(RIVN)$

Source: Tiger Trade App

Shares of $MicroStrategy(MSTR)$ were down 4.4%. The largest corporate holder of Bitcoin purchased 55,500 Bitcoin for about $5.4 billion at an average price of $97,862, including fees and other expenses. It now owns 386,700 bitcoin worth $21.9 billion that were purchased at an average price of $56,761. The company closed a $3 billion convertible bond sale on Friday and used the proceeds to buy more of the cryptocurrency.

A total number of 569.9K options related to $MicroStrategy(MSTR)$ was traded, of which 63% were call options. A particularly high volume was seen for the $1080 strike call option expiring Nov 29, with 13,769 contracts trading. $MSTR 20241129 1080.0 CALL$

Unusual Options Activity

Source: Market Chameleon

$Rivian Automotive, Inc.(RIVN)$ shares jumped 13% on Monday after Tesla announced it had reached a "conditional" settlement in its 2020 lawsuit accusing Rivian of employee poaching and theft of electric-vehicle trade secrets. Rivian also said it has received conditional approval for a loan of up to $6.6 billion from the U.S. Department of Energy to build the electric vehicle maker's production facility in Georgia. Rivian shares jumped another 9% in Tuesday overnight trading.

A total number of 400.44K options related to $Rivian Automotive, Inc.(RIVN)$ was traded, of which 76% were call options. A particularly high volume was seen for the $12 strike call option expiring Nov 29, with 48,617 contracts trading. $RIVN 20241129 12.0 CALL$

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 bought a net equivalent of 5,587,333 shares of SMCI stock. The largest bullish delta came from buying calls. The largest delta volume came from the 16-May-25 Call, with traders getting long 467,175 deltas on the single option contract.

Source: Market Chameleon

Top 10 bullish stocks: SMCI, TGT, WBA, KR, KMI, INTC, MRNA, MTCH, CZR, ENPH

Top 10 bearish stocks: NVDA, AAPL, GOOGL, TSLA, AMZN, C, F, MU, DOW, MSFT

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