Option Movers | SMCI Sees High Bullish Sentiment; MSTR $400 Call Shows Heavy Concentration
The Nasdaq and S&P 500 closed higher on Monday (Nov 18), recovering some losses as investors anticipate quarterly earnings from AI leader Nvidia.
Regarding the options market, a total volume of 61,484,192 contracts was traded on Wednesday.
Top 10 Option Volumes
Top 10: $TSLA(TSLA)$; $NVDA(NVDA)$; $PLTR(PLTR)$; $SMCI(SMCI)$; $AAPL(AAPL)$; $MARA(MARA)$; $AMD(AMD)$; $AMZN(AMZN)$; $MSTR(MSTR)$; $WMT(WMT)$;
Source: Tiger Trade App
$Super Micro Computer(SMCI)$ stock surged 16% on Monday and continued to rally 39% in the extended session. The beleaguered server maker late Monday said it gave Nasdaq a "compliance plan" to support its request for a filing extension in order to keep its listing.
The company also said that BDO USA has been named its independent auditor, effective immediately.
"BDO is a highly respected accounting firm with global capabilities. This is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency," Chief Executive Charles Liang said in a statement.
A total number of 864.5K options related to $Super Micro(SMCI)$ was traded, of which 65% were call options. A particularly high volume was seen for the $25 strike call option, with 65,118 contracts trading as of Monday.
Source: Market Chameleon
Market Sentiment for $SMCI(SMCI)$ as of Nov 18, 2024 is quite bullish. Based on option delta volume, traders bought a net equivalent of 1,293,749 shares of stock. The largest bullish delta came from buying calls.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
$MicroStrategy(MSTR)$ shares surged 13% on Monday. MicroStrategy late Monday disclosed plans for a $1.75 billion private placement of 0% convertible senior notes maturing in December 2029, subject to market and other conditions.
The company expects to use the net proceeds from the proposed offering to buy additional bitcoin and for general corporate purposes. The company also expects to grant the initial purchasers an option to purchase up to an additional $250 million of notes.
A total number of 864.5K options related to $MicroStrategy(MSTR)$ was traded, 1.8 times higher than the 90-day average trading volume. A particularly high volume was seen for the $400 strike call option, with 30,182 contracts trading as of Monday.
Source: Market Chameleon
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: $NVDA(NVDA)$; $PFE(PFE)$; $SMCI(SMCI)$; $AAPL(AAPL)$; $AMD(AMD)$; $CVS(CVS)$; $KMI(KMI)$; $NKE(NKE)$; $FCX(FCX)$; $NFLX(NFLX)$
Top 10 bearish stocks: $AMZN(AMZN)$; $PLTR(PLTR)$; $WMT(WMT)$; $OXY(OXY)$; $CSCO(CSCO)$; $NEM(NEM)$; $PRU(PRU)$; $WBA(WBA)$; $MRK(MRK)$; $ADM(ADM)$
Source: Market Chameleon
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