Options Market Statistics: Marathon Stock Rises Ahead of Bitcoin Conference, Options Pop
$NVIDIA Corp(NVDA)$
While shares of the chip maker have risen almost 129% this year, they have hit a rough patch, tumbling over the past week as Alphabet stuck to, rather than raised, its spending guidance for the rest of 2024, and as investors rotated out of big technology stocks.
$Tesla Motors(TSLA)$
Electric-vehicle maker Tesla reported a second consecutive decline in profit and missed Wall Street's estimates on Wednesday.
$Marathon Digital Holdings Inc(MARA)$ stock climbed 6.36%. Its options trading volume was 0.30 million. Call contracts account for 75% of the total trading volume. The $123 calls expiring August 2nd were traded most actively.
Major digital assets rallied Friday, with Bitcoin (BTC-USD) soaring toward the $68,000 level ahead of the Bitcoin Conference on Saturday. A key highlight of the event will be Donald Trump’s 30-minute keynote address on the final day, Saturday, July 27. His speech is expected to resonate with voters and gain support from influential cryptocurrency advocates like the Winklevoss twins.
Trump’s participation shows his growing interest in the cryptocurrency sector. In June, he met with Bitcoin mining companies at his Mar-a-Lago resort, expressing interest in expanding U.S.-based Bitcoin mining operations. Some Bitcoin enthusiasts think Trump might use this platform to push for the U.S. government to adopt Bitcoin as a “strategic reserve” asset, similar to foreign currencies or oil. This speculation has already influenced the market.
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