To The Moon

Market Overview

U.S. stocks finished higher on Friday (Apr. 5) after a strong jobs report reinforced the view that the economy remains healthy even as it suggested the Federal Reserve could delay cutting interest rates.

Regarding the options market, a total volume of 44,518,410 contracts was traded, up 6% from the average daily trading volume.

Top 10 Option Volumes

Top 10: $TSLA(TSLA)$, $NVDA(NVDA)$, $AMD(AMD)$, $AMZN(AMZN)$, $META(META)$, $AAPL(AAPL)$, $INTC(INTC)$, $PLTR(PLTR)$, $MSFT(MSFT)$, $PFE(PFE)$

Source: Tiger Trade App

$Tesla(TSLA)$ shares fell 3.6% on Friday after Reuters reported the electric-vehicle company was scrapping plans for a lower-priced all-electric vehicle that Wall Street refers to as the Model 2. Instead, Tesla will be focusing on self-driving robotaxis. CEO Elon Musk denied the report in a tweet on X, his social-media platform. The shares gained 3.8% in extended trading.

There are 3.82 million Tesla option contracts traded on Friday, up 29% from the previous trading day. Put options account for 52% of overall option trades. Particularly high volume was seen for the $170 strike call option expiring April 5, with 370,894 contracts trading.

Source: Market Chameleon

Unusual Options Activity

Source: Market Chameleon

The Nasdaq Composite gained 1.2% on Friday while declined 0.8% last week. $Nasdaq100 Bear 3X ETF(SQQQ)$ (SQQQ) sparked the interest of traders.

There are 410.3K SQQQ option contracts traded on Friday, up 25% from the previous trading day. Call options account for 85% of overall option trades. Particularly high volume was seen for the $10.5 strike call option expiring April 5, with 61,357 contracts trading.

Source: Market Chameleon

Gold and silver prices hit record highs, supported by speculative buying and continued tensions in the Middle East, which overshadowed strong U.S. job growth in March. The ETFs associated with them have also attracted the attention of traders.

There are 358.9K $SPDR Gold Shares(GLD)$ (GLD) option contracts traded on Friday, up 25% from the previous trading day. Call options account for 55% of overall option trades. Particularly high volume was seen for the $215 strike call option expiring April 5, with 16,647 contracts trading.

Source: Market Chameleon

There are 999.2K $iShares Silver Trust(SLV)$ (SLV) option contracts traded on Friday, up 55% from the previous trading day. Call options account for 87% of overall option trades. Particularly high volume was seen for the $40 strike call option expiring January 17, 2025, with 70,091 contracts trading. SLV 20250117 40.0 CALL

Source: Market Chameleon

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 -4,970,576 shares of Tesla stock. The largest bearish delta came from selling calls. The largest delta volume came from the 05-Apr-24 170 Call, with traders getting short 6,769,725 deltas on the single option contract.

Top 10 bullish stocks: $INTC(INTC)$, $AMZN(AMZN)$, $BHC(BHC)$, $CCL(CCL)$, $AMC(AMC)$, $AGNC(AGNC)$, $QCOM(QCOM)$, $GEO(GEO)$, $MPW(MPW)$, $VFC(VFC)$

Source: Market Chameleon

Top 10 bearish stocks: $TSLA(TSLA)$, $AAPL(AAPL)$, $NKLA(NKLA)$, $OXY(OXY)$, $DJT(DJT)$, $NIO(NIO)$, $AMD(AMD)$, $GOOGL(GOOGL)$, $GOLD(GOLD)$; $RIVN(RIVN)$

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