Market Overview
Wall Street stocks closed lower on Thursday(April 25) as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.
Regarding the options market, a total volume of 42,070,812 contracts was traded, up 12% from the previous trading day.
Top 10 Option Volumes
Top 10: TSLA, $Meta Platforms, Petroleo Brasileiro SA Petrobras , NVDA, Microsoft , AAPL, AMZN, Snap Inc , Intel , AMD
Source: Tiger Trade
Petroleo Brasileiro SA Petrobras rose 1.4% on Thursday's trading after shareholders voted to pay out 50% of extraordinary dividends the company withheld in March, easing investor concerns about the destination of the funds. Following the vote, Petrobras is set to distribute as much as half of the 43.9B reais (~$8.43B) available to distribute as extra dividends, while the remaining 50% will be kept in a fund for future disbursement, which Brazil's government has signaled could happen by the end of this year.
There are 1528.25K Petroleo option contracts traded on Thursday, up 60 times from the previous trading day. Call options account for 99% of overall option trades. Particularly high volume was seen for the $15 strike call option expiring Jun 21, with 245,995 contracts trading.$PBR 20240621 15.0 CALL$
Unusual Options Activity
Source: Market Chameleon
Meta Platforms reported first-quarter earnings and revenue that topped expectations but guidance that missed forecasts, sending shares of the parent of Facebook and Instagram down 11%. Meta projects second-quarter revenue of $36.5 billion to $39 billion; the midpoint of the range was just shy of analysts’ consensus of $38.2 billion. Meta projected 2024 capital expenditures of $35 billion to $40 billion, above its previous range of $30 billion to $37 billion, on higher artificial-intelligence-related spending.
There are 1919.85K Meta option contracts traded on Thursday, up 200% from the previous trading day. Call options account for 59% of overall option trades. Particularly high volume was seen for the $450 strike call option expiring April 26, with 88,537 contracts trading.$META 20240426 450.0 CALL$
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.
Based on option delta volume, traders bought a net equivalent of 3,117,444 shares of Nvidia stock. The largest bullish delta came from buying calls. The largest delta volume came from the 17-May-24 850 Call, with traders getting long 310,538 deltas on the single option contract.$NVDA 20240517 850.0 CALL$
Top 10 bullish stocks: NVDA, TSLA, LUV, META, F, INTC, NCLH, SMCI, GM, ORCL
Top 10 bearish stocks: AAPL, MO, BA, GOOGL, AAL, BMY, T, RTX, GE, BAC
Source: Market Chameleon
If you are interested in options and you want to:
Share experiences and ideas on options trading.
Read options-related market updates/insights.
Learn more about options trading if you are a beginner in this field.
Please click to join Tiger Options Club
