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Option Movers|SQQQ Had 83% Call Options; Volume of Amazon and This EV Stock Rose 20% and 100% Separately

Option Movers2023-04-14

Market Overview

U.S. stocks ended sharply higher on Thursday(Apr.13) as economic data showed cooling inflation and a loosening labor market, fueling optimism that the Federal Reserve could be nearing the end of its aggressive interest rate hike cycle.

The Dow Jones Industrial Average rose 1.14%, the S&P 500 gained 1.33%, and the Nasdaq Composite added 1.99%.

Regarding the options market, a total volume of 34,743,807 contracts was traded on Thursday, down 3.53% from the previous trading day.

Top 10 Option Volumes

Top 10: SPY, QQQ, TSLA, AAPL, AMZN, VIX, NVDA, IWM, META, NKLA

Options related to equity index ETFs are popular with investors, with 8.13 million SPDR S&P 500 ETF Trust and 2.81 million Invesco QQQ Trust options contracts trading on Thursday.

Total trading volume for SPDR S&P 500 ETF Trust and Invesco QQQ Trust slid 7.51% and 12.19% separately from the previous day. 57% of SPDR S&P 500 ETF Trust trades bet on bearish options.

Amazon.com rose 4.67% on Thursday as its cloud computing division released a suite of technologies aimed at helping other companies develop their own chatbots and image-generation services backed by artificial intelligence.

There were 1.03 million Amazon.com option contracts traded on Thursday, jumping nearly 20% from the previous day. Call options account for 59% of overall option trades. Particularly high volume was seen for the $102 strike call option expiring Apr 14, with 69,854 contracts trading.

Source: Tiger Trade App

Most Active Options

1. Most Active Trading Equities Options:

Special %Calls >70%:  Nikola CorporationAlphabet

Data From CBOE Trader Alert, as of 13 Apr 2023 EDT

2. Most Active Trading ETFs Options

Special %Calls >70%:  Financial Select Sector SPDR Fund; iShares Silver Trust; VanEck Gold Miners ETF; ARK Innovation ETF; Nasdaq100 Bear 3X ETF; VIX Short-Term Futures 1.5X ETF; Spdr S&P Biotech Etf; S&P Biotech Bull 3X Shares

Special %Puts >70%: iShares Russell 2000 ETF; $iShares iBoxx High Yield Corporate Bond ETF;

Data From CBOE Trader Alert, as of 13 Apr 2023 EDT

Unusual Options Activity​​

Source: Market Chameleon

Nasdaq100 Bear 3X ETF crashed 5.65% as the Nasdaq Composite rose 1.99%, US inflation at the wholesale level continued its downward slide in March with annualized price increases sinking dramatically to 2.7% from an upwardly revised 4.9%.

There were 203,078 Nasdaq100 Bear 3X ETF option contracts traded on Thursday, call options account for 83% of overall option trades. Particularly high volume was seen for the $31 strike call option expiring Apr 14, with 17,345 contracts trading.

Nikola Corporation fell 2.38% on Thursday as three board members were retiring from its board of directors at its annual meeting on June 7. 

There were 428,100 Nikola Corporation option contracts traded on Thursday, nearly doubling from the previous day. Call options account for 74% of overall option trades. Particularly high volume was seen for the $1 strike put option expiring May 19, with 50,343 contracts trading.

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: Apple, Citigroup, DISH Network, NVIDIA Corp, Netflix, Intel, Wells Fargo, Micron Technology, Alphabet, CVS Health

Top 10 bearish stocks: American Airlines, Delta Air Lines, Advanced Micro Devices, Charles Schwab, Tesla Motors, Carnival, Amazon.com, Pfizer, First Republic Bank, Walt Disney

Source: Market Chameleon

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment3

  • 来人
    ·2023-04-15
    Ok
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  • ChaoYang
    ·2023-04-14
    Should buy the bearish one since market always do the opposite
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  • Vincentan59
    ·2023-04-14
    🙉🙉🙉🐔
    Reply
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