Option Movers | SQQQ Sees 90% Call Options; JPMorgan's Volume Surges 144%
Market Overview
U.S. stocks sold off on Friday (Apr. 12) after major U.S. banks' results failed to impress, capping a week marked by market-moving inflation data, evolving expectations for U.S. Federal Reserve policy, and looming geopolitical tensions. All three major indexes fell more than 1%, and registered losses on the week.
Regarding the options market, a total volume of 51,127,172 contracts was traded, up 24% from the average daily trading volume.
Top 10 Option Volumes
Top 10: $AAPL(AAPL)$, $NVDA(NVDA)$, $TSLA(TSLA)$, $AMD(AMD)$, $AMZN(AMZN)$, $META(META)$, $INTC(INTC)$, $JPM(JPM)$, $C(C)$, $MARA(MARA)$
Source: Tiger Trade App
$Apple(AAPL)$ shares bucked the broader market’s weekly selloff. The shares rose in heavy trading volume for the second straight day on a news report that the company plans a big AI-focused refresh of its Mac computer lineup.
There are 2.62 million Apple option contracts traded on Friday, up 33% from the previous trading day. Call options account for 68% of overall option trades. Particularly high volume was seen for the $177.5 strike call option expiring April 12, with 273,756 contracts trading.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
$JPMorgan Chase(JPM)$, the biggest U.S. bank by assets, posted a 6% profit increase but its net interest income forecast fell short of expectations. Its shares slid 6.5% on Friday.
There are 411.2K JPMorgan option contracts traded on Friday, up 144% from the previous trading day. Call options account for 63% of overall option trades. Particularly high volume was seen for the $187.5 strike call option expiring April 12, with 23,194 contracts trading.
Source: Market Chameleon
$Citigroup(C)$ posted a loss after spending on employee severance and deposit insurance. Its stock dipped 1.7% on Friday.
There are 360.8K Citigroup option contracts traded on Friday, up 27% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $60 strike call option expiring April 12, with 30,106 contracts trading.
Source: Market Chameleon
$Invesco QQQ Trust-ETF(QQQ)$ (QQQ) dropped 1.6% on Friday. $Nasdaq100 Bear 3X ETF(SQQQ)$ (SQQQ) and $Nasdaq100 Bull 3X ETF(TQQQ)$ (TQQQ) attracted investor attention.
There are 581.7K SQQQ option contracts traded on Friday, up 96% from the previous trading day. Call options account for 90% of overall option trades. Particularly high volume was seen for the $11 strike call option expiring April 12, with 179,457 contracts trading.
Source: Market Chameleon
There are 529.1K TQQQ option contracts traded on Friday, up 27% from the previous trading day. Call options account for 60% of overall option trades. Particularly high volume was seen for the $60 strike call option expiring April 12, with 38,442 contracts trading.
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 -4,721,906 shares of Apple stock. The largest bearish delta came from selling calls. The largest delta volume came from the 12-Apr-24 177.5 Call, with traders getting short 4,794,054 deltas on the single option contract.
Top 10 bullish stocks: $C(C)$, $ACB(ACB)$, $VFC(VFC)$, $PLTR(PLTR)$, $APLD(APLD)$, $MPW(MPW)$, $T(T)$, $EOG(EOG)$, $AGNC(AGNC)$, $VALE(VALE)$
Source: Market Chameleon
Top 10 bearish stocks: $AAPL(AAPL)$, $TSLA(TSLA)$, $RIVN(RIVN)$, $BABA(BABA)$, $JPM(JPM)$, $GOOGL(GOOGL)$, $CCL(CCL)$, $NVDA(NVDA)$, $GOLD(GOLD)$, $AAL(AAL)$
Source: Market Chameleon
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$(AAPL)$ $(TQQQ)$ $(SQQQ)$ $(JPM)$ $(C)$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.
