Option Movers｜ AMD $121 Put Options Attract Heavy Interest; RGTI Volume Surges 266%
Market Overview
U.S. stocks ended little changed on Wednesday(Jan. 8) in a session they struggled for a clear direction, as investors digested the impact of two conflicting sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration on inflation.
Regarding the options market, a total volume of 49,275,709 contracts was traded on Wednesday.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $AMD(AMD)$, $PLTR(PLTR)$, $Rigetti Computing(RGTI)$ , $AT&T Inc(T)$ , $MSTR(MSTR)$, $AAPL(AAPL)$, $IONQ Inc.(IONQ)$ , $fuboTV Inc.(FUBO)$
Source: Tiger Trade App
$Advanced Micro Devices(AMD)$ fell 4.3% to $121.84 after HSBC analysts downgraded shares of the semiconductor company to Reduce from Buy with a price target of $110. The analysts said AMD's road map for producing AI graphics processors "is less competitive than we previously thought."
There are 896.15K AMD option contracts traded on Wednesday, up 78% from the previous trading day. Call options account for 58% of overall option trades. Particularly high volume was seen for the $121 strike put option expiring January 10, with 37,905 contracts trading. $AMD 20250110 121.0 PUT$
Unusual Options Activity
Source: Market Chameleon
Quantum-computing stock $Rigetti Computing(RGTI)$ tumbled down 45% after Nvidia's Huang said "very useful" quantum computers won't be viable for 15 to 30 years. "If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it's probably on the late side," Huang said in a Q&A session during Nvidia's analyst day. "If you picked 20, I think a whole bunch of us would believe it."
There are 698.79K RGTI option contracts traded on Wednesday, up 266% from the previous trading day. Put options account for 52% of overall option trades. Particularly high volume was seen for the $10 strike put option expiring January 10, with 33,529 contracts trading. $RGTI 20250110 10.0 PUT$
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 -6,768,894 shares of PGR stock. The largest bearish delta came from selling calls. The largest delta volume came from the 17-Jan-25 Call, with traders getting short 3,449,648 deltas on the single option contract.
Top 10 bullish stocks: T, F, PLTR, C, DRI, XOM, AAPL, META, WMT, SMCI
Top 10 bearish stocks: PGR, VZ, ORCL, AMD, MA, NVDA, WBA, PEP, PFE, BAC
Source: Market Chameleon
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$(AMD)$ $(IONQ)$ $(RGTI)$ $(QUBT)$ $(QBTS)$ $(ARQQ)$ $(LAES)$ $(QMCO)$ $(HOLO)$ $(GOOGL)$ $(GOOG)$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.
