To The Moon

Market Overview

U.S. stocks tumbled to a lower close on Wednesday(April 10) after hotter-than-expected inflation data threw cold water on hopes that the Federal Reserve would begin cutting interest rates as early as June.

Regarding the options market, a total volume of 42,006,637 contracts was traded, up 20% from the previous trading day.

Top 10 Option Volumes

Top 10: $TSLA(TSLA)$, $NVDA(NVDA)$, $AAPL(AAPL)$, $AMD(AMD)$, $INTC(INTC)$ , $AMZN(AMZN)$, $Boeing(BA)$ , $META(META)$, $Pfizer(PFE)$ , $Delta Air Lines(DAL)$

Source: Tiger Trade App

Delta Air Lines topped first-quarter earnings expectations and reported record revenue. The carrier said it expects second-quarter profit of $2.20 to $2.50 a share, compared with analysts’ estimates of $2.22. Shares of Delta fell 2.3%.

There are 259.37K Delta option contracts traded on Wednesday, up 59% from the previous trading day. Call options account for 68% of overall option trades. Particularly high volume was seen for the $50 strike call option expiring April 19, with 18,404 contracts trading.$DAL 20240419 50.0 CALL$ 

Unusual Options Activity

Source: Market Chameleon

The iShares 20+ Year Treasury Bond ETF (TLT) fell to fresh 2024 lows on Wednesday following the release of an unexpectedly hot Consumer Price Index for March. The interest rate sensitive fund dropped 2.2%. On a year-to-date basis, TLT is now down 8.8%, erasing its gain of 2.8% from last year and then some.

There are 783,369 TLT option contracts traded on Wednesday, up 170% from the previous trading day. Put options account for 63% of overall option trades. Particularly high volume was seen for the $95 strike put option expiring April 19, with 64,640 contracts trading.$TLT 20240419 95.0 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.

Based on option delta volume, traders bought a net equivalent of 2,123,617 shares of Nvidia stock. The largest bullish delta came from buying calls. The largest delta volume came from the 12-Apr-24 860 Put, with traders getting long 370,371 deltas on the single option contract.$NVDA 20240412 860.0 PUT$ 

Top 10 bullish stocks: NVDA, F, HUM, KDP, NEM, C, PARA, CSCO, CFG, UAL

Top 10 bearish stocks: TSLA, AAPL, AMT, INTC, GILD, MCD, PFE, ULTA, T, OXY

Source: Market Chameleon

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