Option Movers | Palantir Options Pop as Wedbush Announced a New Bull Case of $50; Netflix's Volume Surges 283%
Market Overview
U.S. stocks tumbled on Thursday (Jul 18), reversing early gains as investors continued to rotate away from high-priced megacap growth stocks and second-quarter earnings season gathered steam.
Regarding the options market, a total volume of 55,904,267 contracts was traded.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $Apple(AAPL)$, $AMD(AMD)$, $Amazon(AMZN)$, $Palantir(PLTR)$, $TSMC(TSM)$, $Intel(INTC)$, $Broadcom(AVGO)$, $Meta(META)$
$Broadcom(AVGO)$ shares gained almost 3% on Thursday after the Information reported that it has discussed making an artificial intelligence chip for OpenAI, potentially vaulting it further into Nvidia’s territory.
There are 559.51K Broadcom option contracts traded on Thursday. Put options account for 52% of overall option trades. Particularly high volume was seen for the $170 strike call option expiring July 19, with 32,850 contracts trading.
Palantir shares gained 1.5% on Thursday after Wedbush maintained an outperform rating on the stock and announced a new bull case of $50 per share.
There are 723.65K Palantir option contracts traded on Thursday. Call options account for 74% of overall option trades. Particularly high volume was seen for the $30 strike call option expiring July 19, with 63,195 contracts trading.
Unusual Options Activity
$Netflix(NFLX)$ late Thursday beat Wall Street's estimates for the second quarter. But Netflix stock wavered in extended trading on the company's soft revenue outlook.
The streaming video leader added 8.05 million subscribers in the June quarter, ending the period with 277.65 million total subscribers worldwide. Analysts had expected Netflix to gain 4.53 million new subscribers.
There are 273,590 Netflix option contracts traded on Thursday, up 283% from the previous trading day. Put options account for 52% of overall option trades. Particularly high volume was seen for the $500 strike put option expiring July 19, with 12,459 contracts trading.
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