Option Movers | Traders Bet Trump Media to $70 by Dec. 6; Intel Sees Bearish Sentiment
U.S. stocks closed slightly lower after a choppy session on Monday(Nov. 4), as investors prepared for a crucial week in which Americans will elect a new president and the Federal Reserve will announce its policy statement.
Regarding the options market, a total volume of 37,490,883 contracts was traded on Monday.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$; $Tesla(TSLA)$; $Super Micro Computer(SMCI)$; $Palantir(PLTR)$; $Trump Media(DJT)$; $Apple(AAPL)$; $Amazon(AMZN)$; $AMD(AMD)$; $Intel(INTC)$; $Meta(META)$
$Tesla Motors(TSLA)$'s stock fell 2.47% on Monday. The company, which has historically shunned celebrity promotions, has signed South Korean pistol shooter Kim Ye-ji as a brand ambassador, indicating a potential shift in its marketing strategy.
A total number of 1.33 million options related to Tesla was traded. A particularly high trading volume was seen for the $250 strike call options expiring this Friday, with 53,753 options contracts trading on Monday. $TSLA 20241108 250.0 CALL$
Unusual Options Activity
According to a Digitimes article posted on Monday, $NVIDIA Corp(NVDA)$ is said to be routing orders originally placed with $SUPER MICRO COMPUTER INC(SMCI)$ to other vendors in order to minimize interruptions in the AI server supply chain. This change seeks to steady Nvidia's activities in light of financial reporting difficulties at Super Micro, whose failure to submit its financials by Nov. 20 could cause delisting.
A total number of 717.54K options related to $Super Micro Computer(SMCI)$ was traded, of which 53% were call options. A particularly high trading volume was seen for the $20 strike put options expiring Nov. 8, with 22,365 options contracts trading on Monday. $SMCI 20241108 20.0 PUT$
$Trump Media & Technology(DJT)$'s stock up 12.37% on Monday. The stock has become a proxy for the presidential election outcome, and it has dropped in the last week as the race draws to a close. The election remains a very tight race, with polls showing Kamala Harris leading among early voters in several swing states.
A total number of 580.14K options related to $Trump Media(DJT)$ was traded, of which 55% were put options. A particularly high trading volume was seen for the $70 strike call options expiring Dec. 6, with 28,855 options contracts trading on Monday. $DJT 20241206 70.0 CALL$
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 -809,293 shares of $Intel(INTC)$ stock. The largest bearish delta came from selling calls. The largest delta volume came from the 17-Jan-25 Call, with traders getting short 121,405 deltas on the single option contract.
Top 10 bullish stocks: $Snap(SNAP)$; $FuelCell Energy(FCEL)$; $Super Micro Computer(SMCI)$; $CoreCivic(CXW)$; $ChargePoint(CHPT)$; $Sirius XM(SIRI)$; $Citigroup(C)$; $Bank Of America(BAC)$; $Tilray Brands(TLRY)$; $Peloton(PTON)$
Top 10 bearish stocks: $Bitfarms(BITF)$; $Intel(INTC)$; $Longboard Pharmaceuticals(LBPH)$; $Globalstar(GSAT)$; $AT&T(T)$; $Viking Therapeutics(VKTX)$; $Rush Street Interactive(RSI)$; $Cisco(CSCO)$; $Palantir(PLTR)$; $Alphabet(GOOG)$
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