U.S. stocks ended sharply lower on Monday (Nov. 17), with the S&P 500 and the Nasdaq closing below a key technical indicator for the first time since late April as investors braced for quarterly results from retailers and chip giant Nvidia and awaited a long-delayed U.S. jobs report this week.
Regarding the options market, a total volume of 56,438,782 contracts was traded on Monday, call ratio accounted for 55%.
Top 10 Option Volumes
Top 10: $Tesla(TSLA)$; $Nvidia(NVDA)$; $Apple(AAPL)$; $Amazon(AMZN)$; $Palantir(PLTR)$; $Strategy(MSTR)$; $Meta Platforms(META)$; $Opendoor(OPEN)$; $AMD(AMD)$; $SoFi(SOFI)$
Source: Tiger Trade App
$Tesla(TSLA)$ stock rose over 1% on Monday. One thing helping was a price target hike from Stifel analyst Stephen Gengaro. On Sunday, he took his target to $508 from $483 and kept his Buy rating on shares, citing improved performance of Tesla’s Full-Self Driving driver assistance product.
Before the bump, on Friday, CEO Elon Musk spoke with Rob Baron, his “true and tested friend,” as well as a longtime Tesla and SpaceX shareholder, at the annual Baron Capital Investment Conference. The two men touched on space, robotics, robo-taxis, ChatGPT, AI, and chips for AI computing.
“Ultimately [there will] be billions of humanoid robots,” said Musk early in the hourlong interview. “Who would not want their own personal R2-D2 [and] C-3PO,” referencing the famous Star Wars droids.
A total number of 2.25 million options related to $Tesla(TSLA)$ was traded on Monday, of which 62% were call options. A particularly high open interest was seen for the $480 strike call options expiring Dec. 5, with a total number of 69,558 unclosed options as of Friday.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
Shares of $XPeng(XPEV)$ declined 10% after the Chinese electric vehiclemaker reported better-than-expected quarterly earnings.
A couple of things look to be weighing on investor sentiment. First was the outlook. Fourth-quarter sales are expected to be about $3.2 billion. That’s up about 38% year over year, but Wall Street was looking for closer to $3.6 billion.
The second factor might be the starting point. XPeng stock has been strong so far this year, up 112% coming into Monday. Performance like that typically raises expectations for quarterly results.
A total number of 146,422 options related to $XPeng(XPEV)$ was traded on Monday, 3.8 times higher than the 90-day average trading volume. Market sentiment for XPeng stock is quite bearish on Friday. Based on option delta volume, traders sold a net equivalent of 371,428 shares of XPeng stock.
The largest delta volume came from the 19-Dec-25 $23 Call, with traders getting short 69,208 deltas on the single option contract.
Source: Market Chameleon
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.
Top 10 bullish stocks: $COIN(COIN)$; $TXN(TXN)$; $GOOG(GOOG)$; $PSKY(PSKY)$; $AMZN(AMZN)$; $MOH(MOH)$; $ACN(ACN)$; $TSLA(TSLA)$; $C(C)$; $CVS(CVS)$
Top 10 bearish stocks: $GOOGL(GOOGL)$; $DASH(DASH)$; $CVX(CVX)$; $HOOD(HOOD)$; $INTC(INTC)$; $NVDA(NVDA)$; $AAPL(AAPL)$; $SMCI(SMCI)$; $BAC(BAC)$; $MGM(MGM)$
Source: Market Chameleon
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