Option Movers | This Palantir Call Soars 481%; Traders Still See Trump Media to $70
U.S. stocks closed sharply higher in a broad rally on Tuesday (Nov. 5) after data signaled a solid economy, but investors braced for volatile trading this week as voting was underway in an extremely tight U.S. presidential election.
Regarding the options market, a total volume of 40,385,694 contracts was traded on Tuesday.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$; $Palantir(PLTR)$; $Tesla(TSLA)$; $Trump Media(DJT)$; $Super Micro Computer(SMCI)$; $Amazon(AMZN)$; $Apple(AAPL)$; $SoFi Technologies(SOFI)$; $Intel(INTC)$; $AMD(AMD)$
$Palantir Technologies Inc.(PLTR)$ shares finished up 23% on Tuesday for a record close after the data analytics software maker reported robust third-quarter results and issued uplifting revenue guidance.
Net income of $143.5 million, or 6 cents per share, was up from $71.5 million, or 3 cents per share, in the same quarter a year ago. The company called for fourth-quarter revenue of $767 million to $771 million. Analysts surveyed by LSEG had been looking for $741.4 million.
A total number of 1.68 million options related to $Palantir Technologies Inc.(PLTR)$ was traded on Tuesday. A particularly high trading volume was seen for the $50 strike call options expiring this Friday, with 88,103 options contracts trading. The $50 strike call option expiring this Friday surged 481% on Tuesday. $PLTR 20241108 50.0 CALL$
$Tesla Motors(TSLA)$ shares finished up 3.5% on Tuesday.
A total number of 1.43 million options related to Tesla was traded, of which 63% were call options on Tuesday. A particularly high trading volume was seen for the $260 strike call options expiring this Friday, with 48,297 options contracts trading. $TSLA 20241108 260.0 CALL$
Unusual Options Activity
A total number of 904.90K options related to $Trump Media & Technology(DJT)$ was traded, of which 52% were put options. A particularly high trading volume was seen for the $70 strike call options expiring Dec. 6, with 69,074 options contracts trading on Tuesday. $DJT 20241206 70.0 CALL$
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 bought a net equivalent of 3,593,516 shares of $NVIDIA Corp(NVDA)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 08-Nov-24 Call, with traders getting long 1,509,605 deltas on the single option contract.
Top 10 bullish stocks: $Palantir(PLTR)$; $Nvidia(NVDA)$; $Trump Media(DJT)$; $Lucid(LCID)$; $GameStop(GME)$; $Bank Of America(BAC)$; $BigBear.ai(BBAI)$; $AGNC Investment(AGNC)$; $TeraWulf(WULF)$; $Amazon(AMZN)$
Top 10 bearish stocks: $ChargePoint(CHPT)$; $SoFi Technologies(SOFI)$; $Boeing(BA)$; $Host(HST)$; $TAL Education(TAL)$; $AMD(AMD)$; $Synchrony(SYF)$; $NextEra Energy(NEE)$; $Wheaton Precious Metals(WPM)$; $Agnico Eagle Mines(AEM)$
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