Wall Street's main indexes all closed higher on Tuesday(Dec 24), with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session.
Regarding the options market, a total volume of 27,767,572 contracts was traded on Tuesday.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$; $TSLA(TSLA)$; $Palantir Technologies Inc.(PLTR)$ ; $Altria(MO)$ ; $AAPL(AAPL)$; $AMD(AMD)$; $SUPER MICRO COMPUTER INC(SMCI)$ ; $Broadcom(AVGO)$ ; $MSTR(MSTR)$; $Amazon.com(AMZN)$
Source: Tiger Trade App
$SUPER MICRO COMPUTER INC(SMCI)$ gained 6% to $34.33. Shares of the server maker closed 2.6% higher on Monday. The stock -- after an up and down 2024--has traded between $18 and $119 since Jan. 1. The company has delayed filing its latest financial reports but earlier this month received an extension until Feb. 25, which helped it avoid the immediate threat of delisting from the Nasdaq.
A total number of 347.86K options related to $SUPER MICRO COMPUTER INC(SMCI)$ was traded, up 71% from the previous trading, of which 74% were call options. A particularly high option volume related to SMCI was seen for the $35 strike call option expiring Dec 27, with 28,104 contracts trading as of Tuesday. $SMCI 20241227 35.0 CALL$
Unusual Options Activity
Source: Market Chameleon
Shares of Rigetti Computing (RGTI) surged 4% on Tuesday, amid heightened investor enthusiasm for quantum computing companies following Alphabet's (GOOGL) recent breakthrough in the field.
A total number of 122,379 options related to $Rigetti Computing(RGTI)$ was traded, of which 74% were call options. A particularly high option volume related to RGTI was seen for the $10 strike call option expiring Dec 27, with 11,828 contracts trading as of Tuesday. $RGTI 20241227 10.0 CALL$
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 -3,169,308 shares of NVDA stock. The largest bearish delta came from selling calls. The largest delta volume came from the 17-Jan-25 Put, with traders getting short 707,020 deltas on the single option contract.
Source: Market Chameleon
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