Option Movers | This Faraday Future Call Soars 666% in One Day; Nvidia Sees Bullish Sentiment
Market Overview
Wall Street closed in negative territory on Monday(Dec. 30) in light volume at the top of a holiday-shortened week in the second-to-last trading session of an eventful year in which all three indexes posted strong double-digit gains.
Regarding the options market, a total volume of 40,049,088 contracts was traded.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $Apple(AAPL)$, $MicroStrategy(MSTR)$, $Palantir(PLTR)$, $AMD(AMD)$, $Riot Platforms(RIOT)$, $MARA Holdings(MARA)$, $Amazon.com(AMZN)$, $CBOE Volatility Index(VIX)$
$Tesla Motors(TSLA)$ stock fell 3.3% on Monday, making it three consecutive days of losses.
The recent losses precede Tesla’s fourth-quarter delivery announcement, which is expected on Thursday. Analysts project the total to be around 510,000 units, slightly below the company’s 515,000 goal. Tesla’s best quarterly delivery number ever was 484,507 vehicles in the fourth quarter of 2023. For all of 2024, Tesla is predicted to deliver a total of around 1.8 million cars, flat with 2023.
There are 1.36 million $Tesla Motors(TSLA)$ option contracts traded on Monday. Call options account for 55% of overall option trades. Particularly high volume was seen for the $420 strike put option expiring Jan. 3, with 46,392 contracts trading. $TSLA 20250103 420.0 PUT$
$Riot Platforms(RIOT)$ fell 4.5% on Monday. The company's short percent of float has risen 30.47%. The company recently reported that it has 59.52 million shares sold short, which is 17.47% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.3 days to cover their short positions on average.
There are 396.14K $Riot Platforms(RIOT)$ option contracts traded on Monday. Call options account for 65% of overall option trades. Particularly high volume was seen for the $20 strike call option expiring Jun. 20, with 62,682 contracts trading. $RIOT 20250620 20.0 CALL$
Unusual Options Activity
$Faraday Future Intelligent Electric Inc.(FFIE)$ rose 23% Monday on reports that the Faraday Future FX prototype car will be unveiled at CES 2025 in Las Vegas on January 5-7. The company is also expected to provide a strategy update at CES.
There are 126.57K $Faraday Future Intelligent Electric Inc.(FFIE)$ option contracts traded on Monday, nearly 10.2 times higher than the 90-day average trading volume. Particularly high volume was seen for the $3 strike call option expiring Jan 3, 2025, with 17,964 contracts trading. The $3 strike call option expiring this Friday surged 666% on Monday. $FFIE 20250103 3.0 CALL$
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 bought a net equivalent of 2,132,136 shares of $NVIDIA(NVDA)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 03-Jan-25 Call, with traders getting long 836,051 deltas on the single option contract.
Top 10 bullish stocks: $Nvidia(NVDA)$, $Ocean Power(OPTT)$, $Comstock(LODE)$, $Faraday Future(FFIE)$, $U.S. Bancorp(USB)$, $Riot Platforms(RIOT)$, $Intel(INTC)$, $BigBear.ai(BBAI)$, $SoundHound AI(SOUN)$, $MARA Holdings(MARA)$
Top 10 bearish stocks: $iTeos Therapeutics(ITOS)$, $Rithm Capital(RITM)$, $Alphabet(GOOGL)$, $Endeavor Group(EDR)$, $Tesla(TSLA)$, $Microsoft(MSFT)$, $Nio(NIO)$, $Vivid Seats(SEAT)$, $Petroleo Brasileiro(PBR)$, $AMD(AMD)$
If you are interested in options and you want to:
Share experiences and ideas on options trading.
Read options-related market updates/insights.
Learn more about options trading if you are a beginner in this field.
Please click to join Tiger Options Club
$(TSLA)$ $(FFIE)$ $(RIOT)$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.
