Option Movers | This Intuitive Machines Call Soars 1300%; PDD Holdings Shows Bullish Sentiment
Market Overview
U.S. stocks closed with modest losses on Wednesday, well off their intraday highs, after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years.
Regarding the options market, a total volume of 39,020,362 contracts was traded.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $Apple(AAPL)$, $Intel(INTC)$, $Broadcom(AVGO)$, $SoFi Technologies(SOFI)$, $Palantir(PLTR)$, $Intuitive Machines(LUNR)$, $Meta(META)$, $Amazon(AMZN)$
$Intuitive Machines(LUNR)$ stock rose 38.33% on Wednesday after NASA awarded the lunar-focused company a major contract to build moon data satellites.
The five-year contract, which has a maximum total value of $4.82 billion, will incrementally issue awards as work progresses. Intuitive Machines’ initial NSN award is worth $150 million.
There are 331.53K Intuitive Machines option contracts traded on Wednesday. Call options account for 77% of overall option trades. The $7.5 strike call option expiring this Friday surged 1300% on Wednesday. $LUNR 20240920 7.5 CALL$
$Tesla(TSLA)$ fell 0.29% on Wednesday.
There are 1.51M Tesla option contracts traded on Wednesday. Call options account for 62% of overall option trades. Particularly high volume was seen for the $235 strike call option expiring September 20, with 112,479 contracts trading. $TSLA 20240920 235.0 CALL$
Unusual Options Activity
There are 91.70K $SoundHound AI(SOUN)$ option contracts traded on Wednesday. Call options account for 81% of overall option trades. Particularly high volume was seen for the $5 strike call option expiring September 20, with 22.14K contracts trading. $SOUN 20240920 5.0 CALL$
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 660,860 shares of $PDD Holdings Inc(PDD)$ stock. The largest bullish delta came from selling puts. The largest delta volume came from the 20-Sep-24 Put, with traders getting long 267,522 deltas on the single option contract.
Top 10 bullish stocks: $Apple(AAPL)$, $Broadcom(AVGO)$, $Core Scientific(CORZ)$, $PDD Holdings(PDD)$, $U.S. Steel(X)$, $Applied Digital(APLD)$, $Walmart(WMT)$, $PayPal(PYPL)$, $Affirm(AFRM)$, $Citigroup(C)$
Top 10 bearish stocks: $Nio(NIO)$, $Grab(GRAB)$, $Intel(INTC)$, $GameStop(GME)$, $SoFi(SOFI)$, $Nvidia(NVDA)$, $Plug Power(PLUG)$, $Unity(U)$, $Oracle(ORCL)$, $Uniti Group(UNIT)$
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$(NVDA)$ $(TSLA)$ $(AAPL)$ $(INTC)$ $(AVGO)$ $(SOFI)$ $(PLTR)$ $(LUNR)$ $(META)$ $(AMZN)$ $(SOUN)$ $(PDD)$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.
