Option Movers | Broadcom Sees 64% Call Options Ahead of Earnings; Adobe's Volume Doubles After Earnings

Market Overview

Wall Street pulled back on Thursday (Dec. 12) as investors evaluated key economic indicators ahead of the Federal Reserve's meeting next week.

Regarding the options market, a total volume of 43,643,928 contracts wastraded, down 7% from the previous trading day.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $VIX(VIX)$, $AAPL(AAPL)$, $PLTR(PLTR)$, $AMD(AMD)$, $AVGO(AVGO)$, $MSFT(MSFT)$, $RIOT(RIOT)$, $INTC(INTC)$

Source: Tiger Trade App

$Broadcom(AVGO)$ forecast quarterly revenue above Wall Street estimates on Thursday and predicted booming demand for its custom artificial intelligence chips in the next few years. The shares surged 14% in extended trading.

Traders have made a bet ahead of Broadcom's earnings. There are 598.78K Broadcom option contracts traded on Thursday, up 47% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $185 strike call option expiring December 13, with 23,634 contracts trading. AVGO 20241213 185.0 CALL

Unusual Options Activity

Source: Market Chameleon

$Walmart(WMT)$ is trading ex-dividend on December 13th, 2024. Shareholders of record on December 13th, 2024 will receive 0.2075 USD dividend per share on January 6th, 2025. The ex-dividend date is December 13th, 2024.

There are 349.3K Walmart option contracts traded on Thursday, dwon 34% from the previous trading day. Call options account for 89% of overall option trades. Particularly high volume was seen for the $75 strike call option expiring December 20, with 44,563 contracts trading. WMT 20241220 75.0 CALL

$Adobe(ADBE)$ shares tumbled 13.7% on Thursday after the Photoshop maker's downbeat full-year revenue forecast led to concerns that returns from AI investments into its software applications might take longer than expected.

There are 305.88K Adobe option contracts traded on Thursday, up 108% from the previous trading day. Call options account for 54% of overall option trades. Particularly high volume was seen for the $500 strike call option expiring December 13, with 9,191 contracts trading. ADBE 20241213 500.0 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: $WMT(WMT)$, $XOM(XOM)$, $STX(STX)$, $SMCI(SMCI)$, $CB(CB)$, $WBA(WBA)$, $KR(KR)$, $PLTR(PLTR)$, $CVS(CVS)$, $CI(CI)$

Top 10 bearish stocks: $NVDA(NVDA)$, $WBD(WBD)$, $AMZN(AMZN)$, $GOOGL(GOOGL)$, $TSLA(TSLA)$, $GOOG(GOOG)$, $AAPL(AAPL)$, $MSFT(MSFT)$, $UBER(UBER)$; $GILD(GILD)$

Source: Market Chameleon

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