U.S. stocks took a breather on Wednesday (June 25), pausing a two-day rally as the tenuous Israel-Iran cease fire continued to hold and investors pored over a second day of congressional testimony from Federal Reserve Chair Jerome Powell.
Regarding the options market, a total volume of 48,063,844 contracts was traded on Monday, call ratio accounted for 59%.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$; $TSLA(TSLA)$; $AMD(AMD)$; $AAPL(AAPL)$; $PLTR(PLTR)$; $SMCI(SMCI)$; $MU(MU)$; $COIN(COIN)$; $AMZN(AMZN)$; $MSTR(MSTR)$
Source: Tiger Trade App
$Nvidia(NVDA)$ rose 4.3% to $154.31 on Wednesday. Shares of the chip maker topped its prior record close of $149.43 from Jan. 6. Analysts at Loop Capital on Wednesday raised their price target to $250 from $175 and kept a Buy rating on the stock.
The company also overtook $Microsoft(MSFT)$ as the most valuable public company in the world by market capitalization. Nvidia has gained about $1.42 trillion from its lowest close this year, in April, according to the data.
Earlier this month, analysts at Barclays raised their price target for the chip maker to $200, citing enthusiasm for Nvidia's ramp-up of its Blackwell artificial-intelligence platform. The analysts said Nvidia "has the most potential upside in our coverage" for the second half of the year and that "the supply chain sounds positive" about that period.
A total number of 5.4 million options related to $Nvidia(NVDA)$ was traded on Wednesday, of which call options accounted for 72%. Based on option delta volume, traders bought a net equivalent of 1,269,513 shares of stock. The largest bullish delta came from buying calls.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
Shares of solid-state electric-vehicle-battery maker $Quantumscape(QS)$ soared 31% on Wednesday after the company announced an important milestone.
The jump came after the company announced Tuesday evening its "Cobra" separator process had entered "baseline production."
The Cobra process is substantially better than prior processes, the company says, bringing QuantumScape closer to producing solid-state batteries that could be used in a production EV.
A total number of 323,945 options related to $Quantumscape(QS)$ was traded on Tuesday, of which call options accounted for 81%. Bullish bets related to QS showed big gains. For example, the $5 strike call option expiring this Friday soared 7300%.
Source: Tiger Trade App
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: $NVDA(NVDA)$; $AMD(AMD)$; $SLB(SLB)$; $LVS(LVS)$; $SMCI(SMCI)$; $CCL(CCL)$; $WFC(WFC)$; $AAPL(AAPL)$; $MSFT(MSFT)$; $F(F)$
Top 10 bearish stocks: $TSLA(TSLA)$; $CRM(CRM)$; $XOM(XOM)$; $C(C)$; $META(META)$; $COP(COP)$; $SBUX(SBUX)$; $ABBV(ABBV)$; $AMZN(AMZN)$; $MU(MU)$
Source: Market Chameleon
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