Option Movers｜Tesla's Volume Surged 87%; Oracle's $210 Call Soared 900%

Market Overview

Wall Street ended sharply lower on Friday(Jun 13) after Iran launched missiles at Israel in response to intensive Israeli strikes aimed at crippling Tehran's ability to build nuclear weapons.

Regarding the options market, a total volume of 63,805,285 contracts was traded, up 47% from the previous trading day.

Top 10 Option Volumes

Top 10: $TSLA(TSLA)$, $NVDA(NVDA)$, $AAPL(AAPL)$, $Palantir Technologies Inc.(PLTR)$, $ORCL(ORCL)$, $AMD(AMD)$, $Altria(MO)$, $Meta Platforms, Inc.(META)$, $GME(GME)$

Source: Tiger Trade App

Shares of electric-vehicle maker $Tesla(TSLA)$ were up 1.9% on last Friday. The stock declined 2.2% on Thursday after President Donald Trump signed a joint resolution of Congress to eliminate California's ability to regulate its air emissions. While California is expected to challenge that move in court, it puts at risk sales of so-called regulatory credits the company receives because its all-electric fleet exceeds government targets.

There are 4.64 million $Tesla(TSLA)$ option contracts traded on Friday, up 87% from the previous trading day. Call options account for 55% of overall option trades.

Unusual Options Activity

Source: Market Chameleon

$Oracle(ORCL)$ stock rose over 7% on Friday. Oracle has a rosy outlook ahead, according to BMO Capital Markets. The bank upgraded the cloud computing stock to an outperform rating from market perform. Analyst Keith Bachman accompanied the move by lifting his price target to $235 from $200. Bachman’s revised price target implies an upside of nearly 18% ahead.

There are 820.65K $Oracle(ORCL)$ option contracts traded on Friday. Call options account for 60% of overall option trades. Particularly high volume was seen for the $210 strike call option expiring June 20, with 29,281 contracts trading.

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 sold a net equivalent of -634,836 shares of $Home Depot(HD)$ stock. The largest bearish delta came from buying puts. The largest delta volume came from the 20-Jun-25 400 Put, with traders getting short 238,483 deltas on the single option contract.

Top 10 bullish stocks: MO, AAPL, NVDA, AMZN, ORCL, PFE, SMCI, AMD, TSLA, MSFT

Top 10 bearish stocks: HD, PEP, INTC, AKAM, UNH, OXY, CMG, XOM, ADBE, CVX

Source: Market Chameleon

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