Option Movers | This Trump Media Call Soars 1038% in One Day; Riot Platforms Sees Bullish Sentiment
Market Overview
The Nasdaq fell on Monday, while the benchmark S&P 500 bounced off a two-month low and eked out a slight gain as U.S. Treasury yields stayed elevated with investors dialing back expectations on the pace of rate cuts from the Federal Reserve.
Regarding the options market, a total volume of 46,299,103 contracts was traded.
Top 10 Option Volumes
Top 10: $Nvidia(NVDA)$, $Tesla(TSLA)$, $CBOE Volatility Index(VIX)$, $Apple(AAPL)$, $Palantir(PLTR)$, $AMD(AMD)$, $Trump Media(DJT)$, $MicroStrategy(MSTR)$, $Rigetti Computing(RGTI)$, $Amazon(AMZN)$
Shares of $Tesla Motors(TSLA)$ rallied 2.2% on Monday.
Morgan Stanley analyst Adam Jonas raised his Tesla stock price target to $430 from $400 and kept his Buy rating.
This is a year "where the market's appreciation for Tesla's unique combination of skills can be further reflected in the multiple," wrote Jonas. Cars still matter for him, but things such as AI-trained self-driving cars matter more. His bull case is $800 a share, valuing Tesla at about $2.6 trillion.
There are 1.47 million $Tesla Motors(TSLA)$ option contracts traded on Monday. Call options account for 59% of overall option trades. Particularly high volume was seen for the $400 strike call option expiring Jan. 17, with 75,866 contracts trading. $TSLA 20250117 400.0 CALL$
$Palantir Technologies Inc.(PLTR)$ fell 3.4% on Monday.
There are 539.72K $Palantir Technologies Inc.(PLTR)$ option contracts traded on Monday. Call options account for 56% of overall option trades. Particularly high volume was seen for the $60 strike put option expiring Jan. 17, with 27,574 contracts trading. $PLTR 20250117 60.0 PUT$
Unusual Options Activity
Shares of $Trump Media & Technology(DJT)$ jumped 21.5% Monday, one week before President-elect Donald Trump’s inauguration.
Trump’s inaugural celebrations will begin with a reception on Saturday, followed the next day by more festivities and a “victory rally.”
Trump will be sworn in for a second nonconsecutive term in the White House on Jan. 20.
A slew of major tech companies and executives have donated to Trump’s inaugural fund ahead of the big day, including $1 million each from $Alphabet(GOOGL)$, OpenAI CEO Sam Altman and $Meta Platforms, Inc.(META)$, as well as reported contributions from $Apple(AAPL)$ CEO Tim Cook and from $Amazon.com(AMZN)$.
There are 399.99K $Trump Media & Technology(DJT)$ option contracts traded on Monday. Call options account for 81% of overall option trades. Particularly high volume was seen for the $40 strike call option expiring Jan 17, 2025, with 38,677 contracts trading. The $40 strike call option expiring this Friday surged 1038% on Monday. $DJT 20250117 40.0 CALL$
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 1,690,514 shares of $Riot Platforms(RIOT)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 28-Feb-25 Call, with traders getting long 965,279 deltas on the single option contract.
Top 10 bullish stocks: $Riot Platforms(RIOT)$, $Trump Media(DJT)$, $Nvidia(NVDA)$, $Palantir(PLTR)$, $Medical Properties(MPW)$, $AMD(AMD)$, $Archer Aviation(ACHR)$, $Intel(INTC)$, $EHang Holdings(EH)$, $D-Wave Quantum(QBTS)$
Top 10 bearish stocks: $Lumen Technologies(LUMN)$, $Tilray(TLRY)$, $Dollar Tree(DLTR)$, $Lucid(LCID)$, $Nike(NKE)$, $POET Technologies(POET)$, $Walgreens Boots Alliance(WBA)$, $BridgeBio Pharma(BBIO)$, $Alphabet(GOOGL)$, $TSMC(TSM)$
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$(NVDA)$ $(TSLA)$ $(VIX)$ $(AAPL)$ $(PLTR)$ $(AMD)$ $(DJT)$ $(MSTR)$ $(RGTI)$ $(AMZN)$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.
