Option Movers｜AST Sees 60% Call Options; Palantir's Volume Surges 131%
Market Overview
U.S. stocks ended higher on Friday(Aug 16), extending their biggest weekly percentage gains of the year as worries of an economic downturn eased and investors focused on the Jackson Hole Economic Symposium next week.
Regarding the options market, a total volume of 44,733,997 contracts was traded.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $Apple(AAPL)$, $Palantir Technologies Inc.(PLTR)$ , $Amazon(AMZN)$, $AMD(AMD)$, $Meta(META)$, $AST SpaceMobile, Inc.(ASTS)$ , $Intel(INTC)$, $Alibaba(BABA)$
Source: Tiger Trade App
On Wednesday, AST confirmed plans to launch five Bluebird communications satellites in the first half of September. So Shares of AST climbed 50% on Thursday. There are caveats. Five satellites aren't a lot. AST needs 20 to cover the whole U.S., and 168 satellites to cover the world. Building out the whole fleet of 168 comsats is still expected to cost the company $5 billion in cash that it doesn't currently possess.
There are 424818 AST option contracts traded on Friday. Call options account for 60% of overall option trades. Particularly high volume was seen for the $40 strike call option expiring August 23, with 11,339 contracts trading. $ASTS 20240823 40.0 CALL$
Unusual Options Activity
Source: Market Chameleon
Shares of Palantir advanced 2.75% to $32.08 Friday. Days after reporting strong second-quarter results, Palantir gave investors even more good news when it announced an expanded partnership with Microsoft.
There are 754146 Palantir option contracts traded on Friday, up 131% from the previous trading day. Call options account for 69% of overall option trades. Particularly high volume was seen for the $40 strike call option expiring Sep 20, with 29,922 contracts trading. $PLTR 20240920 40.0 CALL$
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).
Based on option delta volume, traders bought a net equivalent of 979,202 shares of AMCR stock. The largest bullish delta came from buying calls. The largest delta volume came from the 20-Sep-24 10 Call, with traders getting long 953,431 deltas on the single option contract. $AMCR 20240920 10.0 CALL$
Top 10 bullish stocks: AMCR, ABNB, SBUX, CSCO, BEN, AVGO, NFLX, BAC, BMY, HRL
Top 10 bearish stocks: GOOGL, TSLA, INTC, NVDA, AMZN, MSFT, CMG, KO, DIS, MU
Source: Market Chameleon
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$(ASTS)$ $(PLTR)$ $(AMCR)$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.
