Option Movers｜Coinbase Sees 73% Call Options; Lucid's Volume Surged 24 Times
Market Overview
The S&P 500 stock index and the Nasdaq Composite both finished at record highs on Thursday(Jul. 17), as investors embraced strong economic data and earnings reports that showed American consumers remained willing to spend.
Regarding the options market, a total volume of 55,534,720 contracts was traded.
Top 10 Option Volumes
Source: Tiger Trade App
The U.S. House of Representatives passed three major cryptocurrency bills, sparking a broad rally across digital assets and crypto-related equities. Coinbase hit record highs.
There are 490.66K Coinbase option contracts traded on Thursday, up 43% from the previous trading day. Call options account for 73% of overall option trades. Particularly high volume was seen for the $420 strike call option expiring July 18, with 29,433 contracts trading. $COIN 20250718 420.0 CALL$
Unusual Options Activity
Source: Market Chameleon
$Lucid(LCID)$ Group soared 36% after the luxury-vehicle maker announced a self-driving partnership with $Uber Technologies(UBER)$ and Nuro. The service is expected to launch later next year in a major U.S. city, the companies said. Uber aims to deploy 20,000 or more Lucid vehicles equipped with Nuro self-driving technology over six years.
There are 1.52M Lucid option contracts traded on Thursday, 24 times higher from the previous trading day. Call options account for 66% of overall option trades. Particularly high volume was seen for the $3.5 strike call option expiring July 18, with 143,587 contracts trading. $LCID 20250718 3.5 CALL$
TOP 10 S&P 500 Bullish & Bearish
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 3,192,979 shares of Tesla stock. The largest bullish delta came from selling puts. The largest delta volume came from the 18-Jul-25 360 Put, with traders getting long 1,200,308 deltas on the single option contract.
Top 10 bullish stocks: TSLA, NVDA, MSFT, C, CPB, SCHW, CLX, ADBE, NEM, NEE
Top 10 bearish stocks: BRK.B, UNH, WBD, ELV, BAC, ABT, PG, PLTR, MU, GOOGL
Source: Market Chameleon
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