Option Movers｜Apple Volume Surges 133%; Intel Sees Bullish Sentiment
All three U.S. stock indexes closed lower on Thursday(Oct 31) after Microsoft and Meta Platforms highlighted growing artificial intelligence costs that could hit their earnings, curbing enthusiasm for megacaps that have fueled the market rally this year.
Regarding the options market, a total volume of 52,863,185 contracts was traded on Wednesday, up 24% from the previous trading day.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$; $Tesla(TSLA)$; $SUPER MICRO COMPUTER INC(SMCI)$ ; $Apple(AAPL)$ ; $Amazon.com(AMZN)$ ; $Microsoft(MSFT)$ ; $AMD(AMD)$; $Meta Platforms, Inc.(META)$ ; $Intel(INTC)$ ; $Trump Media & Technology(DJT)$
Source: Tiger Trade App
$Apple(AAPL)$'s AI-enhanced iPhone made a strong start, pushing quarterly sales ahead of Wall Street expectations, but a modest revenue forecast raised questions about whether that momentum will hold over the holiday sales season. A decline in China sales during the fourth quarter also concerned some analysts and investors, helping send shares down 1.5% in premarket trade, despite surprisingly large overall profit and revenue in that period.
A total number of 1.05M options related to AAPL was traded on Thursday, up 133% from the previous trading day. Call options account for 51% of overall option trades. A particularly high trading volume was seen for the $240 strike Call options expiring Nov 1, with 48,639 options contracts trading. $AAPL 20241101 240.0 CALL$
Unusual Options Activity
Source: Market Chameleon
Three months after a painful earnings report that scorched Intel Corp. shares, the company booked nearly $19 billion in restructuring charges but said business trends are now improving. The results underscored "solid progress" $Intel(INTC)$ is making to reduce costs, simplify its portfolio and be more efficient, Chief Executive Pat Gelsinger said in a statement. Shares were rising more than 6% in premarket Friday.
A total number of 714.71K options related to INTC was traded on Thursday, up 110% from the previous trading day. Call options account for 57% of overall option trades. A particularly high trading volume was seen for the $25 strike call options expiring Dec 20, with 22,424 options contracts trading. $INTC 20241220 25.0 CALL$
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 sold a net equivalent of -3,316,304 shares of NVDA stock. The largest bearish delta came from selling calls. The largest delta volume came from the 01-Nov-24 Put, with traders getting short 1,232,767 deltas on the single option contract.
Top 10 bullish stocks: NKE, C, NCLH, SLB, MO, OKE, BMY, DLTR, EW, SYF
Top 10 bearish stocks: NVDA, SMCI, AMD, UBER, MSFT, TSLA, GOOG, AAPL, INTC, GOOGL
Source: Market Chameleon
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