Option Movers | Nvidia Sees 66% Call Options; While Coinbase Sees 84% Call Options
Market Overview
Wall Street ended higher on Monday (Oct. 14), with both the S&P 500 and the Dow posting fresh record finishes, as investors bought into technology stocks ahead of a busy week packed with corporate earnings and crucial economic data.
Regarding the options market, a total volume of 37,992,846 contracts was traded, down 20% from the previous trading day.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $SOFI(SOFI)$, $COIN(COIN)$, $AAPL(AAPL)$, $MSTR(MSTR)$, $AMD(AMD)$, $MARA(MARA)$, $SMCI(SMCI)$, $AMZN(AMZN)$
Source: Tiger Trade App
$Nvidia(NVDA)$ shares closed at their highest ever on Monday, putting the heavyweight AI chipmaker on the brink of dethroning Apple as the world's most valuable company. With investors betting on strong demand for its current and next-generation AI processors, the Santa Clara, California company's stock climbed 2.4% to end the day at $138.07.
There are 3.44 million Nvidia option contracts traded on Monday, down 10% from the previous trading day. Call options account for 66% of overall option trades. Particularly high volume was seen for the $140 strike call option expiring October 18, with 333,436 contracts trading. NVDA 20241018 140.0 CALL
$SoFi Technologies(SOFI)$ shares jumped 11.4% on Monday after the digital financial services company announced a $2 billion deal with Fortress Capital to grow its personal loans business.
There are 793.3K SoFi option contracts traded on Monday, up 86% from the previous trading day. Call options account for 77% of overall option trades. Particularly high volume was seen for the $10 strike call option expiring October 18, with 96,681 contracts trading. SOFI 20241018 10.0 CALL
Unusual Options Activity
Source: Market Chameleon
Bitcoin rose Monday, lifting shares of Coinbase and other stocks linked to the cryptocurrency. The price of bitcoin recently surpassed $66,000, rising some 6% over the past 24 hours according to CoinDesk data. $Coinbase(COIN)$ jumped 11.3% on Monday.
There are 579.7K Coinbase option contracts traded on Monday, up 94% from the previous trading day. Call options account for 84% of overall option trades. Particularly high volume was seen for the $190 strike call option expiring October 18, with 48,065 contracts trading. COIN 20241018 190.0 CALL
$Trump Media & Technology(DJT)$ (DJT) stock surged 18.5% on Monday as election betting odds shifted, Truth Social launched streaming site.
There are 286.9K DJT option contracts traded on Monday, up 14% from the previous trading day. Call options account for 65% of overall option trades. Particularly high volume was seen for the $30 strike call option expiring October 18, with 15,814 contracts trading. DJT 20241018 30.0 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.
Top 10 bullish stocks: $AMC(AMC)$, $GME(GME)$, $PFE(PFE)$, $SPWR(SPWR)$, $BNED(BNED)$, $PTEN(PTEN)$, $GSL(GSL)$, $TSM(TSM)$, $TEVA(TEVA)$, $ENPH(ENPH)$
Source: Market Chameleon
Top 10 bearish stocks: $INTC(INTC)$, $AAPL(AAPL)$, $AMZN(AMZN)$, $SBUX(SBUX)$, $DJT(DJT)$, $AMD(AMD)$, $MSFT(MSFT)$, $SHOP(SHOP)$, $SIRI(SIRI)$; $GOOG(GOOG)$
Source: Market Chameleon
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$(NVDA)$ $(SOFI)$ $(COIN)$ $(DJT)$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.
