Option Movers | GOOGL's $185 Call Soars 2675% in One Day! WBA's Volume Surges 409%

Market Overview

Wall Street's main indexes closed lower on Tuesday (Dec. 10) as technology sector losses offset gains in communications services while investors waited for key inflation reports that may influence the Federal Reserve's next interest rate decisions.

Regarding the options market, a total volume of 44,339,561 contracts was traded, down 12% from the previous trading day.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $PLTR(PLTR)$, $AAPL(AAPL)$, $AMD(AMD)$, $SMCI(SMCI)$, $INTC(INTC)$, $AMZN(AMZN)$, $GOOG(GOOG)$, $AI(AI)$

Source: Tiger Trade App

$GOOGL(GOOGL)$ jumped 5.6% and $GOOG(GOOG)$ jumped 5.3% on Tuesday after Google parent Alphabet teased a major breakthrough with its new quantum computing chip “Willow.” The “Willow” chip takes less than five minutes to solve a problem that would take a current “leading supercomputer” about 10 septillion years to solve – or “far beyond the age of the universe,” according to Google CEO Sundar Pichai.

There are 1.07 million GOOGL option contracts traded on Tuesday, up 334% from the previous trading day. Call options account for 79% of overall option trades. Particularly high volume was seen for the $185 strike call option expiring December 13, with 106,722 contracts trading. The call soared 2675% on Tuesday. GOOGL 20241213 185.0 CALL

There are 436.35K GOOG option contracts traded on Tuesday, up 131% from the previous trading day. Call options account for 82% of overall option trades. Particularly high volume was seen for the $185 strike call option expiring December 13, with 34,827 contracts trading. GOOG 20241213 185.0 CALL

$C3.ai(AI)$ shares have been volatile Tuesday, after a filing showing that CEO Thomas Siebel plans to sell millions of stock offset better-than-estimated quarterly results.

There are 395.18K C3.ai option contracts traded on Tuesday, up 112% from the previous trading day. Call options account for 72% of overall option trades. Particularly high volume was seen for the $42 strike call option expiring December 13, with 25,780 contracts trading. AI 20241213 42.0 CALL

Unusual Options Activity

Source: Market Chameleon

$Walgreens Boots Alliance(WBA)$ shares surged 17.7% on Tuesday, making it the S&P 500's biggest percentage gainer after reports that it is in talks to sell itself to private equity firm Sycamore Partners.

There are 311.68K Walgreens option contracts traded on Tuesday, up 409% from the previous trading day. Call options account for 76% of overall option trades. Particularly high volume was seen for the $10 strike call option expiring December 20, with 25,918 contracts trading. WBA 20241220 10.0 CALL

Top 10 S&P 500 Bullish & Bearish

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: $TSLA(TSLA)$, $WBA(WBA)$, $PLTR(PLTR)$, $BAC(BAC)$, $AVGO(AVGO)$, $JPM(JPM)$, $C(C)$, $WFC(WFC)$, $CPRT(CPRT)$, $MU(MU)$

Top 10 bearish stocks: $SMCI(SMCI)$, $PCG(PCG)$, $PFE(PFE)$, $NVDA(NVDA)$, $AMD(AMD)$, $GOOGL(GOOGL)$, $GOOG(GOOG)$, $META(META)$, $AMZN(AMZN)$, $FOXA(FOXA)$

Source: Market Chameleon

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