Option Movers|1.21M VIX Option Contracts Traded As Debt-Limit Deal Clears Congress

Market Overview

U.S. stock indexes closed up on Thursday(Jun 1) as signs of slowing wage pressure on inflation raised hopes the Federal Reserve will pause raising interest rates in two weeks, and investors welcomed a vote in Congress to suspend the U.S. debt ceiling.

Regarding the options market, a total volume of 39,964,292 contracts was traded, up 3% from the previous trading day.

Top 10 Option Volumes

Top 10: $SPY(SPY)$; $QQQ(QQQ)$; $TSLA(TSLA)$; $NVDA(NVDA)$; $Cboe Volatility Index(VIX)$; $AAPL(AAPL)$; $IWM(IWM)$; $Palantir Technologies Inc.(PLTR)$; $AMZN(AMZN)$; $AMD(AMD)$

Source: Tiger Trade AppSource: Tiger Trade App

Options related to equity index ETFs are still popular with investors, with 9.24 million $SPDR S&P500 ETF Trust(SPY)$ (SPY) and 2.93 million $Invest QQQ Trust ETF(QQQ)$ (QQQ) options contracts trading on Thursday.

The stock market's primary gauge of volatility is falling back to historically low levels now that a deal on raising the debt ceiling looks near. The VIX is trading 12.76% lower to 15.65 points on Thursday. There are 1.21M VIX option contracts traded on Thursday, surging a lot from the previous trading day.

Most Active Options

1. Most Active Trading Equities Options:

Special %Calls >70%: $Alibaba(BABA)$ ;$Cameco(CCJ)$ ; $SoFi Technologies Inc.(SOFI)$ ; $Carvana Co.(CVNA)$ ; $Alphabet(GOOGL)$

Data From CBOE Trader Alert, as of 2 June 2023 EDTData From CBOE Trader Alert, as of 2 June 2023 EDT

2. Most Active Trading ETFs Options

Special %Calls >80%: $CSI China Internet ETF(KWEB)$ ; $iShares Silver Trust(SLV)$ ; $Nasdaq100 Bear 3X ETF(SQQQ)$ ; $VanEck Gold Miners ETF(GDX)$

Data From CBOE Trader Alert, as of 2 June 2023 EDTData From CBOE Trader Alert, as of 2 June 2023 EDT

Special %Puts >70%: $SPDR S&P Regional Banking ETF(KRE)$ ; $Financial Select Sector SPDR Fund(XLF)$ ; $iShares iBoxx $ High Yield Corporate Bond ETF(HYG)$ ; $iShares Russell 2000 ETF(IWM)$

Data From CBOE Trader Alert, as of 2 June 2023 EDTData From CBOE Trader Alert, as of 2 June 2023 EDT

Unusual Options Activity

Source: Market ChameleonSource: Market Chameleon

C3.ai Inc slumped after the artificial intelligence company forecast an annual revenue outlook below analysts' estimates.

"There's going to be a lot of companies that we look at five years from now and be like, 'why did we think that company was going to be the next big thing?'" said Jason Pride, chief investment officer of private wealth at the Glenmede Trust Co in Philadelphia. "We've been staying cautious because of that."

There are 526,295 C3.ai option contracts traded on Thursday. Call options account for 59% of overall option trades. Particularly high volume was seen for the $40 strike call option expiring Jun 2, with 31,284 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: NVDA, TSLA, AAPL, CCL, PFE, WBD, MTCH, NRG, QCOM, GM

Top 10 bearish stocks: BAC, AMD, INTC, F, GOOG, DIS, AMZN, MSFT, PYPL, ABBV

Source: Market ChameleonSource: 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

$(VIX)$ $(AI)$

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.

Report

Comment8

  • Top
  • Latest
  • RandolphStilwell
    ·2023-06-03

    The top 10 option volumes are like a wild mixtape of tickers. Let's dance to the stock market beat

    Reply
    Report
  • ReginaldHearst
    ·2023-06-03

    Options market volume up 3%? That's a lot of contracts traded! Time to join the part

    Reply
    Report
  • AlvaThompson
    ·2023-06-03

    Congress suspending the U。。.S. debt ceiling? Looks like they're giving us investors a brea

    Reply
    Report
  • ReginaEipstein
    ·2023-06-03

    Slowing wage pressure? Inflation taking a chill pill? Time to celebrate with some stock market fun

    Reply
    Report
  • BridgetBirrell
    ·2023-06-03

    Who needs a roller coaster when you have U.S. stock indexes going up and down like crazy

    Reply
    Report
  • VivianChua
    ·2023-06-03
    Nice 💚 💚 💚
    Reply
    Report
  • AuntieAaA
    ·2023-06-03
    GOOD
    Reply
    Report
  • MINH
    ·2023-06-03
    noted
    Reply
    Report