Option Movers | Super Micro Computer's Volume Surges 111%; Coinbase Sees 81% Call Options
Market Overview
The Dow Jones Industrial Average rose on Wednesday and closed at a record high (Oct. 16), and Wall Street's two other benchmark indexes also ended higher, weathering declines in megacap tech shares thanks to small-caps gains and financial shares buoyed by strong earnings.
Regarding the options market, a total volume of 39,590,979 contracts was traded, down 16% from the previous trading day.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $SMCI(SMCI)$, $AAPL(AAPL)$, $PLTR(PLTR)$, $AMD(AMD)$, $COIN(COIN)$, $MARA(MARA)$, $UAL(UAL)$, $AAL(AAL)$
Source: Tiger Trade App
$Nvidia(NVDA)$ stock rose 3.1% Wednesday as investors digested the fallout from Tuesday’s chip stocks plunge after the early release of disappointing earnings and outlook from Dutch semiconductor-equipment maker ASML.
There are 3.63 million Nvidia option contracts traded on Wednesday, down 32% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $135 strike call option expiring October 18, with 200,337 contracts trading.
$Super Micro Computer(SMCI)$ shares rose 2.1% on Wednesday. The comapny announced new artificial intelligence servers powered by Nvidia's newest Blackwell line of processors this week.
There are 751.6K Super Micro Computer option contracts traded on Wednesday, up 111% from the previous trading day. Call options account for 66% of overall option trades. Particularly high volume was seen for the $50 strike call option expiring October 18, with 75,409 contracts trading.
Unusual Options Activity
Source: Market Chameleon
$Coinbase(COIN)$ shares jumped 7.2% on Wednesday as Bitcoin rallies to $68,000, and the shares had surged 18% this month.
There are 457.2K Coinbase option contracts traded on Wednesday, up 59% from the previous trading day. Call options account for 81% of overall option trades. Particularly high volume was seen for the $240 strike call option expiring October 25, with 43,699 contracts trading.
$United Airlines(UAL)$ shares surged 12.4% on Wednesday after it forecast better-than-expected fourth-quarter profit and announced a $1.5-billion share buyback program. Delta Air Lines and American Airlines also benefited, advancing 6.8% and 7.1%, respectively.
There are 347.3K United Airlines option contracts traded on Wednesday, up 105% from the previous trading day. Put options account for 51% of overall option trades. Particularly high volume was seen for the $72 strike call option expiring October 18, with 24,633 contracts trading.
$Morgan Stanley(MS)$ posted a record close, jumping 6.5%, after it joined peers such as JPMorgan Chase in reporting strong profits following a sharp increase in investment banking revenue.
There are 178.6K Morgan Stanley option contracts traded on Wednesday, up 88% from the previous trading day. Call options account for 53% of overall option trades. Particularly high volume was seen for the $120 strike call option expiring October 18, with 8,787 contracts trading.
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: $MARA(MARA)$, $UAL(UAL)$, $AAL(AAL)$, $OKLA(OKLA)$, $COIN(COIN)$, $BEKE(BEKE)$, $NVDA(NVDA)$, $WOLF(WOLF)$, $DAL(DAL)$, $MBLY(MBLY)$
Source: Market Chameleon
Top 10 bearish stocks: $AAPL(AAPL)$, $AMD(AMD)$, $SOFI(SOFI)$, $DNN(DNN)$, $CSCO(CSCO)$, $C(C)$, $F(F)$, $AMZN(AMZN)$, $TSLA(TSLA)$; $SOUN(SOUN)$
Source: Market Chameleon
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$(SMCI)$ $(COIN)$ $(NVDA)$ $(UAL)$ $(MS)$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.
