Option Movers｜Euro Stoxx50 ETF Had 99% Put Options And Volume Rose 3,000%; Two Precious Metals ETFs Had 80% Call Options
Market Overview
Sliding bank shares dragged Wall Street down on Monday with investors worried about contagion from the Silicon Valley Bank collapse, but trade was choppy and the Nasdaq composite actually ended higher as some sectors benefited from hopes the Federal Reserve could ease up on interest rate hikes.
The Dow Jones Industrial Average fell 0.28%, the S&P 500 lost 0.15%, and the Nasdaq Composite added 0.45%.
Regarding the options market, a total volume of 47,497,287 contracts was traded on Monday, down 19.83% from the previous trading day.
Top 10 Option Volumes
Top 10: SPY, QQQ, TSLA, VIX, IWM, BAC, AAPL, XLF, AMZN, KRE
Options related to equity index ETFs are popular with investors, with 11.39 million $SPDR S&P 500 ETF Trust(SPY)$ and 3.72 million $Invesco QQQ Trust(QQQ)$ options contracts trading on Monday.
Total trading volume for $SPDR S&P 500 ETF Trust(SPY)$ and $Invesco QQQ Trust(QQQ)$ slid 19.96% and 4.86% from the previous day. 59% of $SPDR S&P 500 ETF Trust(SPY)$ trades bet on bearish options.
President Joe Biden vowed to take whatever action was needed to ensure the safety of the U.S. banking system after the sudden collapse of Silicon Valley Bank and Signature Bank.
$Bank of America(BAC)$ fell 5.81%, $Financial Select Sector SPDR Fund(XLF)$ slid 3.95% while $SPDR S&P Regional Banking ETF(KRE)$ crashed 12.31% on Monday, and their option trading volumes were 1.05M, 806.2K and 687.9K separately. Also they had 40%, 60% and 54% put options.
However, when talking about the proportion of put options, $SPDR EURO STOXX 50 ETF(FEZ)$ suffered the most as it had 99.93% put options. It slid 1.24% on Monday, with the Euro Stoxx 50 Index falling 3.14%, FTSE100 Index dipping 2.58%, DAX 30 Index crashing 3.04% and CAC 40 Index declining 2.9%.
There were 240,653 $SPDR EURO STOXX 50 ETF(FEZ)$ option contracts traded on Monday, surging nearly 30 times from the previous day. Particularly high volume was seen for the $42 strike put option expiring Mar 17, with 5,366 contracts trading.
Source: Tiger Trade App
Most Active Options
1. Most Active Trading Equities Options:
Special %Calls >60%: $Marathon Digital Holdings Inc(MARA)$; $Alphabet(GOOGL)$; $AMC Entertainment(AMC)$; $Palantir Technologies Inc.(PLTR)$
Special %Puts >60%: $Ford(F)$
Data From CBOE Trader Alert, as of 14 Mar 2023 EDT
2. Most Active Trading ETFs Options
Special %Calls >70%: $SPDR Gold Shares(GLD)$; $iShares Silver Trust(SLV)$; $VanEck Gold Miners ETF(GDX)$
Special %Puts >70%: $iShares iBoxx $ High Yield Corporate Bond ETF(HYG)$; $Energy Select Sector SPDR Fund(XLE)$; $SPDR EURO STOXX 50 ETF(FEZ)$; $ARK Innovation ETF(ARKK)$
Data From CBOE Trader Alert, as of 14 Mar 2023 EDT
3. Top 10 Most Active Trading Indexes options
Special %Calls >70%: $Nanos Standard & Poor's 500(NANOS)$
Special %Puts >70%: MXEF; NQX
Data From CBOE Trader Alert, as of 14 Mar 2023 EDT
Unusual Options Activity
Source: Market Chameleon
Not all sectors were the losers in the SVB crisis. $SPDR Gold Shares(GLD)$, $iShares Silver Trust(SLV)$ and $VanEck Gold Miners ETF(GDX)$ jumped 2.29%, 6.04% and 6.99% on Monday for the rising prices of gold and silver. Their option trading volumes were 523,330, 455,590 and 366,536 separately, rising over 60%, 80% and 150% respectively from the previous day. Also they had 83%, 84% and 78% call options.
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: F, SCHW, AMD, AAPL, CCL, TAP, META, TSLA, NVDA, MSFT
Top 10 bearish stocks: KEY, C, DIS, PFE, AIG, DAL, GE, LUMN, CFG, MS
Source: Market Chameleon
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$(FEZ)$ $(BAC)$ $(XLF)$ $(KRE)$ $(GLD)$ $(SLV)$ $(GDX)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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