Option Movers | This Palantir Call Soars 450% in One Day; SMCI Sees 70% Call Options

Market Overview

The S&P 500 and Nasdaq eked out record closing highs on Tuesday (Dec. 3), with tech-related shares extending recent gains as investors awaited further jobs data.

Regarding the options market, a total volume of 37,160,976 contracts was traded.

Top 10 Option Volumes

Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $Super Micro Computer(SMCI)$, $Palantir(PLTR)$, $Apple(AAPL)$, $Intel(INTC)$, $Meta(META)$, $Amazon.com(AMZN)$, $MicroStrategy(MSTR)$, $Nio(NIO)$

$Palantir Technologies Inc.(PLTR)$ saw its stock rise by 7% on Tuesday. The company announced it received FedRAMP High Authorization for its Federal Cloud Service, enabling it to offer secure cloud services to U.S. government agencies.

There are 1.04 million $Palantir Technologies Inc.(PLTR)$ option contracts traded on Tuesday. Call options account for 56% of overall option trades. Particularly high volume was seen for the $70 strike call option expiring Dec. 6, with 49,248 contracts trading. The $70 strike call option expiring this Friday surged nearly 450% on Tuesday. $PLTR 20241206 70.0 CALL$

$SUPER MICRO COMPUTER INC(SMCI)$ shares dropped 4.3% on Tuesday.

There are 1.19 million SMCI option contracts traded on Tuesday. Call options account for 70% of overall option trades. Particularly high volume was seen for the $50 strike call option expiring Dec. 6, with 66,088 contracts trading. $SMCI 20241206 50.0 CALL$

Unusual Options Activity

$Meta Platforms, Inc.(META)$ rose 3.5% on Tuesday. The stock began to run on Nov. 18, and is now up eight of the past 11 trading days. Shares are up by almost 8% since CEO Mark Zuckerberg dined with President-elect Donald Trump on Nov 27.

There are 594.90K Meta option contracts traded on Tuesday. Particularly high volume was seen for the $610 strike call option expiring Dec. 6, with 39,072 contracts trading. The $610 strike call option expiring this Friday surged nearly 310% on Tuesday. $META 20241206 610.0 CALL$

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 1,095,800 shares of $NIO Inc.(NIO)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 20-Dec-24 Call, with traders getting long 493,616 deltas on the single option contract.

Top 10 bullish stocks: $Lucid(LCID)$, $Palantir(PLTR)$, $Nvidia(NVDA)$, $Apple(AAPL)$, $FS KKR Capital(FSK)$, $BigBear.ai(BBAI)$, $Mara Holdings(MARA)$, $Nio(NIO)$, $PSQ Holdings(PSQH)$, $New Gold(NGD)$

Top 10 bearish stocks: $Super Micro Computer(SMCI)$, $Tesla(TSLA)$, $Energy Transfer(ET)$, $Iris Energy(IREN)$, $American Airlines(AAL)$, $Canopy Growth(CGC)$, $Amazon(AMZN)$, $Heron Therapeutics(HRTX)$, $Teva Pharmaceutical(TEVA)$, $Zeta Global(ZETA)$

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