Option Movers｜Amazon's Volume Surges 107% on Price Target Raised; Traders See MicroStrategy to $250 This Friday

Wall Street stocks, led by S&P 500 and the Nasdaq, ended higher on Tuesday(Nov 26), as technology stocks rebounded, while investors digested President-elect Donald Trump's tariff pledges on top trade partners and the latest minutes from the Federal Reserve.

Regarding the options market, a total volume of 42,026,338 contracts was traded on Tuesday.

Top 10 Option Volumes

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

Source: Tiger Trade App

Amazon climbed 3% on Tuesday thanks to bullish coverage on the stock published by Redburn Atlantic. The firm maintained a buy rating on Amazon and raised its one-year price target on the stock from $225 per share to $235 per share.

A total number of 1.08M options related to Amazon was traded, up 107% from the previous trading day, of which 79% were call options. A particularly high volume was seen for the $210 strike call option expiring Nov 29, with 110,819 contracts trading. $AMZN 20241129 210.0 CALL$

Unusual Options Activity

Source: Market Chameleon

MicroStrategy fell 12% on Tuesday after Bitcoin's initial push toward $100,000 failed.

A total number of 716.98K options related to MicroStrategy was traded, of which 54% were call options. A particularly high volume was seen for the $250 strike put option expiring Nov 29, with 19,615 contracts trading. $MSTR 20241129 250.0 PUT$

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 1,248,643 shares of Citi stock. The largest bullish delta came from selling puts. The largest delta volume came from the 06-Dec-24 Put, with traders getting long 578,163 deltas on the single option contract.

Top 10 bullish stocks: C, MSFT, CCL, AAPL, LLY, SMCI, MO, FCX, TMUS, AMCR

Top 10 bearish stocks: NVDA, AMD, AMZN, TSLA, GOOGL, PFE, GM, INTC, GOOG, AES

Source: Market Chameleon

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