Option Movers | $100 and $200 Are Key Levels for Nvidia and Apple Stocks; Palantir Sees About 60% Call Options
Market Overview
U.S. stocks ended with steep losses on Monday (Aug. 5), leaving the Nasdaq and S&P 500 down at least 3% each as the market extended last week's sell-off amid U.S. recession worries and as Apple shares fell sharply on news that a big investor had cut its stake.
Regarding the options market, a total volume of 48,820,265 contracts was traded, down 21% from the previous trading day.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$, $AAPL(AAPL)$, $TSLA(TSLA)$, $AMZN(AMZN)$, $INTC(INTC)$, $PLTR(PLTR)$, $AMD(AMD)$, $SOFI(SOFI)$, $NU(NU)$, $MSFT(MSFT)$
Source: Tiger Trade App
$Nvidia(NVDA)$ shares tumbled 6.4% on Monday after reports that its Blackwell artificial intelligence (AI) chips will be delayed, amid a global sell-off driven by worries about the U.S. economy.
There are 4.68 million Nvidia option contracts traded on Monday, down 39% from the previous trading day. Call options account for 56% of overall option trades. Particularly high volume was seen for the $100 strike call option expiring August 9, with 119,991 contracts trading.
Source: Market Chameleon
$Apple(AAPL)$ shares fell 4.8% after Berkshire Hathaway halved its stake in the iPhone maker. Billionaire investor Warren Buffett also let cash at Berkshire soar to $277 billion.
There are 1.61 million Apple option contracts traded on Monday, down 26% from the previous trading day. Put options account for 54% of overall option trades. Particularly high volume was seen for the $200 strike put option expiring August 9, with 85,238 contracts trading.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
$Palantir(PLTR)$ raised its annual revenue and profit forecast for the second time this year on Monday, the latest sign that the generative AI boom is driving demand for its software services.
Shares of the Denver, Colorado-based company rose more than 12% in extended trading, adding to a year-to-date gain of more than 39% on the back of a rally in AI-linked stocks.
Traders have made a bet ahead of Palantir's earnings. There are 607.8K Palantir option contracts traded on Monday, up 39% from the previous trading day. Put options account for 59% of overall option trades. Particularly high volume was seen for the $30 strike call option expiring August 9, with 23,081 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 -1,646,856 shares of JD.com stock. The largest bearish delta came from buying puts. The largest delta volume came from the 15-Nov-24 34 Put, with traders getting short 793,547 deltas on the single option contract.
Top 10 bullish stocks: $NVDA(NVDA)$, $SNAP(SNAP)$, $MPW(MPW)$, $AMD(AMD)$, $RIG(RIG)$, $SAVA(SAVA)$, $AAL(AAL)$, $GOTU(GOTU)$, $COIN(COIN)$, $AMC(AMC)$
Source: Market Chameleon
Top 10 bearish stocks: $JD(JD)$, $PZZA(PZZA)$, $INTC(INTC)$, $VZ(VZ)$, $SAVE(SAVE)$, $VALE(VALE)$, $LW(LW)$, $PFE(PFE)$, $DDD(DDD)$; $CLSK(CLSK)$
Source: Market Chameleon
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$(AAPL)$ $(NVDA)$ $(PLTR)$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.
