Option Movers｜Nvidia's Trading Volume Surges 95% As Market Value Tops $2 Trillion; NYCB Shows 73% Put Ratio
U.S. stocks rose on Friday(Mar 1), with the S&P 500 and Nasdaq closing at record highs, as technology stocks rallied on continued enthusiasm for artificial intelligence, with further support from declining Treasury yields.
Regarding the options market, a total volume of 51,363,792 contracts was traded on Friday.
Top 10 Option Volumes
Top 10: $SPY(SPY)$; $QQQ(QQQ)$; $NVDA(NVDA)$; $TSLA(TSLA)$; $Advanced Micro Devices(AMD)$ ; $AAPL(AAPL)$; $IWM(IWM)$; $Meta Platforms, Inc.(META)$ ; $Palantir Technologies Inc.(PLTR)$ ; $AMZN(AMZN)$
Nvidia's stock market value closed above $2 trillion for the first time on Friday after an upbeat report from Dell Technologies reignited Wall Street's AI-fueled rally. Nvidia's stock added 4% after Dell, which sells high-end servers made with Nvidia's processors, gave an upbeat forecast late on Thursday, pointing to a surge in orders for its AI-optimized servers.
A total number of 2.28M options related to Nvidia was traded, up 95% from the previous trading day, of which 58% were call options.
Unusual Options Activity
New York Community Bancorp plunged 26% after disclosing that fourth-quarter earnings would take a hit of $2.4 billion from a goodwill impairment charge, and separately that it had identified “material weaknesses” in its loan review process. The weaknesses, the bank said, resulted from ineffective oversight, risk assessment, and monitoring activities. The regional lender also announced CEO Thomas Cangemi would be stepping down after 27 years with the bank.
A total number of 442,590 options related to NYCB was traded on Friday, 12 times higher than the previous trading day, of which 73% were put options. A particularly high open interest was seen for the $2.50 strike put option expiring Mar 15, with a total number of 77,986 options contracts trading as of Friday.
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 sold a net equivalent of -6,921,564 shares of Apple stock. The largest bearish delta came from selling calls. The largest delta volume came from the 01-Mar-24 180 Call, with traders getting short 3,805,014 deltas on the single option contract.
Top 10 bullish stocks: WBD, GOOG, AVGO, IVZ, NFLX, LLY, GS, UBER, CTLT, PARA
Top 10 bearish stocks: AAPL, TSLA, AMZN, META, INTC, F, PFE, NVDA, QCOM, C
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