Option Movers｜Vinfast's Trading Volume Surges 22%, Traders Bet It to $10
The S&P 500 and Nasdaq closed higher on Wednesday(Aug 30) as fresh economic data signaled a cooling U.S. economy, reinforcing expectations the Federal Reserve will pause rate hikes in September.
Regarding the options market, a total volume of 37,344,119 contracts was traded, down 6% from the previous trading day.
Top 10 Option Volumes
Top 10: $SPY(SPY)$; $QQQ(QQQ)$; $TSLA(TSLA)$; $AAPL(AAPL)$; $NVDA(NVDA)$; $IWM(IWM)$; $Cboe Volatility Index(VIX)$ ; $AMD(AMD)$; $Amazon.com(AMZN)$
Source: Tiger Trade App
Apple has set Sept. 12 as the date for its biggest product-upgrade event of the year, when it’s set to unveil the iPhone 15 line and next-generation smartwatches. Apple stock rises 1.92% on Wednesday.
A total number of 1.63M options contracts related to Apple was traded, up 43% from previous trading day. Call options account for 67% of overall option trades. A particularly high trading volume was seen for the $187.5 strike Call options expiring Sep 1, with a total number of 154,045 option contracts trading on Wednesday.$AAPL 20230901 187.5 CALL$
Unusual Options Activity
Source: Market Chameleon
VinFast Auto (VFS) was down 10.8%. On Tuesday, the Vietnamese electric-vehicle start-up snapped a six-day winning streak, falling 44% and wiping out roughly $90 billion in market value.
A total number of 113,512 options contracts related to VinFast was traded, up 22% from previous trading day. Put options account for 52% of overall option trades. A particularly high trading volume was seen for the $10 strike Put options expiring Sep 15, with a total number of 6,889 option contracts trading on Wednesday.$VFS 20230915 10.0 PUT$
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: KVUE, CVS, XOM, MCD, NWL, LMT, EA, PANW, INTC, WMT
Top 10 bearish stocks: AAPL, TSLA, JNJ, BAC, DIS, META, T, PFE, GOOG, AMD
Based on option delta volume, traders bought a net equivalent of 1,272,697 shares of Kenvue stock. The largest bullish delta came from buying calls. The largest delta volume came from the 20-Oct-23 25 Call, with traders getting long 980,136 deltas on the single option contract.$KVUE 20231020 25.0 CALL$
Source: Market Chameleon
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$(VFS)$ $(AAPL)$ $(KVUE)$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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