Option Movers | Intel's Trading Volume Soars 2.7 Times; SoFi Sees 75% Call Options
Market Overview
U.S. stocks closed nearly unchanged on Tuesday (Sep. 17), giving up earlier gains that had vaulted the S&P 500 and Dow Industrial Average to record highs as investors braced for the first Federal Reserve rate cut in 4-1/2 years.
Regarding the options market, a total volume of 37,659,306 contracts was traded.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $Intel(INTC)$, $Apple(AAPL)$, $Palantir(PLTR)$, $AMD(AMD)$, $Amazon(AMZN)$, $Microsoft(MSFT)$, $Meta(META)$, $SoFi Technologies(SOFI)$
$Intel(INTC)$ stock rose 2.68% on Tuesday after the company struck a multibillion-dollar deal with $Amazon.com(AMZN)$’s Amazon Web Services cloud unit to coinvest in a custom AI semiconductor. Intel also may receive as much as $3 billion in US government funding to make chips for the military. And it’s turning its ailing manufacturing business, or foundry, into a wholly owned subsidiary.
There are 979.65K Intel option contracts traded on Tuesday, 2.7 times higher than the 90-day average trading volume. Call options account for 56% of overall option trades. Particularly high volume was seen for the $22 strike call option expiring September 20, with 87,032 contracts trading. $INTC 20240920 22.0 CALL$
$SoFi Technologies(SOFI)$ rose 0.74% on Tuesday.
There are 242.30K SoFi option contracts traded on Tuesday. Call options account for 75% of overall option trades. Particularly high volume was seen for the $8.5 strike call option expiring September 20, with 25,339 contracts trading. $SOFI 20240920 8.5 CALL$
Unusual Options Activity
$MicroStrategy(MSTR)$ shares down 2.42% on Tuesday.
The largest digital currency traded near $60,000 as of 8:50 a.m. in Singapore on Wednesday after climbing as much as 6.4% — the most intraday since since Aug. 8 — to top $61,000 in US hours on Tuesday.
There are 185.88K MicroStrategy option contracts traded on Tuesday. Call options account for 61% of overall option trades. Particularly high volume was seen for the $140 strike call option expiring September 20, with 13,299 contracts trading. $MSTR 20240920 140.0 CALL$
$Oracle(ORCL)$ shares down 1.68%. Oracle on Tuesday released Java 23 (Oracle JDK 23), in keeping with its now well-established six-month cadence.
There are 154.42K Oracle option contracts traded on Tuesday. Call options account for 60% of overall option trades. Particularly high volume was seen for the $170 strike call option expiring September 20, with 16,019 contracts trading. $ORCL 20240920 170.0 CALL$
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).
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 bought a net equivalent of 674,269 shares of $Amazon.com(AMZN)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 20-Sep-24 Put, with traders getting long 273,145 deltas on the single option contract.
Top 10 bullish stocks: $VICI Properties(VICI)$, $Sirius XM(SIRI)$, $TeraWulf(WULF)$, $Amazon(AMZN)$, $Lilium(LILM)$, $Peloton(PTON)$, $ChargePoint(CHPT)$, $Vodafone(VOD)$, $Delta Air Lines(DAL)$, $Symbotic(SYM)$
Top 10 bearish stocks: $Intel(INTC)$, $SoFi Technologies(SOFI)$, $Nio(NIO)$, $Petrobras(PBR)$, $Luminar Technologies(LAZR)$, $Plug Power(PLUG)$, $Apple(AAPL)$, $Ford(F)$, $Core Scientific(CORZ)$, $Tesla(TSLA)$
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$(NVDA)$ $(TSLA)$ $(INTC)$ $(AAPL)$ $(PLTR)$ $(AMD)$ $(AMZN)$ $(MSFT)$ $(META)$ $(SOFI)$ $(MSTR)$ $(ORCL)$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.
