To The Moon

The S&P 500 and the Nasdaq notched record high closes on Thursday (July 24) as robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks, while Tesla Motors slumped 8% after the electric vehicle maker's results disappointed investors.

Regarding the options market, a total volume of 51,178,005 contracts was traded on Wednesday, call ratio accounted for 62%.

Top 10 Option Volumes

Top 10: $TSLA(TSLA)$; $NVDA(NVDA)$; $OPEN(OPEN)$; $AMD(AMD)$; $INTC(INTC)$; $AMZN(AMZN)$; $AAPL(AAPL)$; $PFE(PFE)$; $GOOG(GOOG)$; $CMG(CMG)$

Source: Tiger Trade App

$Tesla Motors(TSLA)$ shares slumped over 8% as Chief Executive Officer Elon Musk warned of a potential rough stretch ahead after the electric vehicle maker posted one of its worst quarters in years.

Revenue fell 12% to $22.5 billion in the company’s second quarter — the sharpest decline in at least a decade. Adjusted earnings were 40 cents per share, Tesla said Wednesday in a statement, just below the average analyst estimate.

While the report was free of new bombshells and Tesla continues to move forward with its robotaxi and affordable-vehicle plans, the company’s call with analysts ultimately failed to assuage concerns about the path forward. An unusually subdued Elon Musk predicted the robotaxi service will expand to new cities by the end of the year, but warned that expiring incentives for EVs will have an impact on its core automotive business.

A total number of 3.84 million options related to $Tesla(TSLA)$ was traded on Thursday. Bearish bets related to TSLA showed big gains. For example, the $310 strike put option expiring this Friday soared 230%.

Source: Tiger Trade App

Unusual Options Activity

Source: Market Chameleon

$Unitedhealth(UNH)$ shares slipped 4.8% on Thursday after publicly confirmed it was under investigation by the U.S. Department of Justice and said it was complying with both criminal and civil requests from the federal agency.

The disclosure was made in a regulatory filing, marking a shift in tone for the healthcare conglomerate, which earlier this year amid media reports of a civil as well as criminal investigation, said it was unaware of any new probes and denied wrongdoing.

The company said it proactively reached out to the Department of Justice after reviewing the media reports about its participation in the Medicare program, and that it is committed to cooperating with federal authorities.

A total number of 413K options related to $Unitedhealth(UNH)$ was traded on Thursday, of which 53% were put options.

UnitedHealth is set to report earnings on July 29. Options expiring Aug 1 show a Put/Call open interest ratio of 0.6, signaling bullish sentiment ahead of the results.

Source: OpenCharts

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: $WBA(WBA)$; $WDC(WDC)$; $BAC(BAC)$; $HAL(HAL)$; $CMCSA(CMCSA)$; $UBER(UBER)$; $TMUS(TMUS)$; $CCL(CCL)$; $VZ(VZ)$; $JNJ(JNJ)$

Top 10 bearish stocks: $PFE(PFE)$; $TSLA(TSLA)$; $GOOGL(GOOGL)$; $PM(PM)$; $GOOG(GOOG)$; $UNH(UNH)$; $PARA(PARA)$; $AMD(AMD)$; $CSCO(CSCO)$; $PLTR(PLTR)$

Source: Market Chameleon

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