To The Moon

Market Overview

The Nasdaq and S&P 500 scored record closing highs on Monday(Dec. 2), boosted by tech-related shares following the market's strong November gains, as investors awaited this week's economic data including the key monthly jobs report on Friday.

Regarding the options market, a total volume of 42,123,680 contracts was traded.

Top 10 Option Volumes

Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $Super Micro Computer(SMCI)$, $Apple(AAPL)$, $Intel(INTC)$, $Mara Holdings(MARA)$, $Amazon.com(AMZN)$, $AMD(AMD)$, $Meta(META)$, $MicroStrategy(MSTR)$

Shares of $SUPER MICRO COMPUTER INC(SMCI)$ rallied about 29% on Monday after a special committee reiterated that it found “no evidence of misconduct” at the embattled artificial intelligence server maker, and appointed a new chief accounting officer.

“The evidence reviewed by the Special Committee did not raise any substantial concerns about the integrity of Supermicro’s senior management or Audit Committee, or their commitment to ensuring that the Company’s financial statements are materially accurate,” Super Micro said in a release.

There are 1.73 million $SUPER MICRO COMPUTER INC(SMCI)$ option contracts traded on Monday. Call options account for 69% of overall option trades. Particularly high volume was seen for the $40 strike call option expiring Dec. 6, with 72,667 contracts trading. The $40 strike call option expiring this Friday surged 413% on Monday. $SMCI 20241206 40.0 CALL$

$MARA Holdings(MARA)$ shares dropped 6.5% on Monday. MARA Holdings announced the pricing of its offering of $850 million aggregate principal amount of 0.00% convertible senior notes due 2031.

There are 612.53K MARA Holdings option contracts traded on Monday. Call options account for 70% of overall option trades. Particularly high volume was seen for the $27 strike call option expiring Dec. 6, with 27,306 contracts trading. $MARA 20241206 27.0 CALL$

Unusual Options Activity

There are 216.80K $Direxion Daily CSI 300 China A Share Bull 2X Shares(CHAU)$ option contracts traded on Monday, nearly 38 times higher than the 90-day average trading volume. Particularly high volume was seen for the $15 strike call option expiring May 16, 2025, with 210,179 contracts trading. $CHAU 20250516 15.0 CALL$

China’s top leaders plan to start the annual closed-door Central Economic Work Conference next Wednesday to map out economic targets and stimulus plans for 2025, according to people familiar with the matter.

The high-profile conclave — scrutinized by investors for how officials steering the world’s No. 2 economy plan to direct monetary, fiscal and industrial policies — will last for two days, the people added. The meeting is normally attended by the nation’s top leadership including President Xi Jinping as well as senior financial regulators, and was held on the same dates last year.

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 -1,783,744 shares of $Apple(AAPL)$ stock. The largest bearish delta came from selling calls. The largest delta volume came from the 06-Dec-24 Call, with traders getting short 794,469 deltas on the single option contract.

Top 10 bullish stocks: $KeyCorp(KEY)$, $Super Micro Computer(SMCI)$, $Core Scientific(CORZ)$, $Ocean Power(OPTT)$, $Peloton(PTON)$, $Plug Power(PLUG)$, $Planet Labs(PL)$, $AT&T(T)$, $Microsoft(MSFT)$, $Outlook Therapeutics(OTLK)$

Top 10 bearish stocks: $Apple(AAPL)$, $Nvidia(NVDA)$, $Amazon.com(AMZN)$, $Energy Transfer(ET)$, $Poet Technologies(POET)$, $Coca-Cola(KO)$, $OPKO Health(OPK)$, $Alphabet(GOOGL)$, $Pfizer(PFE)$; $Walmart(WMT)$

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