1. Market Overview
For the February , the S&P 500 fell 2.61%, the Dow slid 4.19% and the Nasdaq shed 1.11%. U.S. stocks closed out with monthly declines, as investors continue to assess whether interest rates will remain high for an extended period of time.
Regarding the options market, a total volume of 31,551,105 contracts was traded on Tuesday, down 5% from the previous trading day. $Luminar Technologies, Inc.(LAZR)$'s bullish sentiment heated up after an expanded partnership with Mercedes-Benz. $AMC Entertainment(AMC)$ , $Marathon Digital Holdings Inc(MARA)$ $Rivian Automotive, Inc.(RIVN)$ saw unusual activities ahead of earnings.
2. Top 10 Option Volumes
Top 10: SPY, QQQ, TSLA, AMC, META, HYG, IWM, NVDA, AAPL, LAZR
Options related to equity index ETFs are popular with investors, with 7.71 million $SPDR S&P500 ETF Trust(SPY)$ (SPY) and 2.20 million $Invest QQQ Trust ETF(QQQ)$ (QQQ) options contracts trading on Monday.
Total trading volume for SPY and QQQ decreased by 11% and 3%, respectively, from the previous day. 57% of SPY trades bet on bearish options.
Source: Tiger Trade APP
Theater chain $AMC Entertainment Holdings Inc.(AMC)$ reported a loss for a 14th consecutive quarter and fourth consecutive year Tuesday, and shares fell 6.4% in after-hours trading.
There are 1.19 million AMC option contracts traded on Tuesday. Call options account for 52% of overall option trades. Particularly high volume was seen for the $8 strike call option expiring March 3, with 64,778 contracts trading.
There are 576K $iShares iBoxx $ High Yield Corporate Bond ETF(HYG)$ (HYG) option contracts traded on Tuesday. Put options account for 69% of overall option trades.
Particularly high volume was seen for the $76 strike call option expiring April 21, with 65,315 contracts trading. The next is $71 strike put option expiring April 21, with 65,218 contracts trading.
3. Most Active Options
1) Most Active Trading Equities Options:
Special %Calls >70%: $LAZR(LAZR)$, $BBBY(BBBY)$, $OXY(OXY)$
Special %Puts >50%: $NVDA(NVDA)$, $COIN(COIN)$, $AMD(AMD)$, $TGT(TGT)$, $FBR(FBR)$
Data From CBOE Trader Alert, as of 28 Feb 2023 EDT
2) Most Active Trading ETFs Options
Special %Calls >80%: $FXI(FXI)$, $BOIL(BOIL)$, $SQQQ(SQQQ)$
Special %Puts >70%: $IWM(IWM)$, $EWZ(EWZ)$, $EFA(EFA)$, $ARKK(ARKK)$, $XLF(XLF)$
Data From CBOE Trader Alert, as of 28 Feb 2023 EDT
3) Top 10 Most Active Trading Indexes options
Special %Calls >50%: $VIX(VIX)$, $NDX(NDX)$, $DJX(DJX)$
Special %Puts >50%: $SPY(SPY)$, $RUT(RUT)$, $XSP(XSP)$, $NANOS(NANOS)$, $MXEF(MXEF)$, $NOX(NOX)$
Data From CBOE Trader Alert, as of 28 Feb 2023 EDT
4. Unusual Options Activity
Source: Market Chameleon
Self-driving sensor maker $Luminar Technologies, Inc.(LAZR)$ shares jumped 55.9% in five days. The announced an expanded partnership with Mercedes-Benz Group last week to enable fully automated driving for its next-generation vehicles.
There are 449.5K Luminar option contracts traded on Tuesday. Call options account for 88% of overall option trades. Particularly high volume was seen for the $8 strike call option expiring April 21, with 71,241 contracts trading. The next is $12 strike call option expiring April 21, with 70,766 contracts trading.
$Marathon Digital Holdings Inc(MARA)$ will restate certain results due to accounting errors and canceled its fourth-quarter earnings report scheduled for Tuesday. Specifically, the bitcoin miner determined that it had incorrectlycalculated impairment on a daily basis of its digital assets and it had incorrectly accounted for revenue from a bitcoin mining pool that it had participated in and operated in late 2021 and early 2022.
There are 268.9K Marathon Digital option contracts traded on Tuesday. Call options account for 63% of overall option trades. Particularly high volume was seen for the $8 strike call option expiring March 3, with 20,694 contracts trading.
$Rivian Automotive Inc(RIVN)$ on Tuesday forecast 2023 production well below analysts' estimates as it grapples with lingering supply chain bottlenecks, and announced a recall of more than 12,700 vehicles, sending its shares down almost 10%.
Source: Tiger Trade
There are 268K Rivian option contracts traded on Tuesday. Call options account for 63% of overall option trades. Particularly high volume was seen for the $25 strike calloption expiring March 3, with 21,451 contracts trading.
5. TOP Bullish & Bearish Single Stocks
Top 10 bullish stocks: SPY, MRNS, FXI, QQQ, INTC, XLF, ZIM, AMC, GLD, EEM
Top 10 bearish stocks: BOIL, TSLA, NKLA, F, META, PBR, PLTK, BBBY, SLV, VTNR
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$(.DJI)$ $(.IXIC)$ $(.SPX)$ $(AMC)$ $(LAZR)$ $(RIVN)$ $(MARA)$
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