Option Movers | Netflix's Volume Surges 114%; Rigetti Computing's $15 Call Soars 750% in One Day
Market Overview
Wall Street's main indexes rose on Tuesday (Jan. 21), with the S&P 500 and the Dow closing at their highest levels in more than a month as investors assessed Donald Trump's first actions as U.S. president and were encouraged that he did not start his second term with blanket tariff increases.
Regarding the options market, a total volume of 48,603,542 contracts was traded, down 19% from the previous trading day.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $AAPL(AAPL)$, $VIX(VIX)$, $AMZN(AMZN)$, $MSTR(MSTR)$, $SOFI(SOFI)$, $AMD(AMD)$, $INTC(INTC)$, $PLTR(PLTR)$
Source: Tiger Trade App
$Apple(AAPL)$ shares sank 3.2% on Tuesday. The company was downgraded to hold at Loop Capital and cut to underperform at Jefferies, which became a rare firm with the equivalent of a sell rating on the stock. Meanwhile, Sales of Apple iPhones dived 18.2% in China during the December quarter, according to independent research, a major setback for the company in its biggest market after the US.
There are 1.66 million Apple option contracts traded on Tuesday, up 17% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $225 strike call option expiring January 24, with 100,064 contracts trading. AAPL 20250124 225.0 CALL
$Nviida(NVDA)$ reclaimed its title as the world’s most valuable public company on Tuesday as Apple’s shares slid. In Trump’s first hours back in the Oval Office, the president revoked an order on artificial intelligence signed by his predecessor Joe Biden, in a potential sign of what’s to come for chip makers under Trump.
There are 2.98 million Nvidia option contracts traded on Tuesday, down 27% from the previous trading day. Call options account for 69% of overall option trades. Particularly high volume was seen for the $140 strike call option expiring January 24, with 170,711 contracts trading. NVDA 20250124 140.0 CALL
Unusual Options Activity
Source: Market Chameleon
$Rigetti Computing(RGTI)$ shares surged 42.2% on Tuesday, with momentum building after Donald Trump's inauguration. Investors are piling in, betting on the company's role in the future of quantum computing. Recently, B. Riley analyst Craig Ellis amplified market chatter by more than doubling his price target on RGTI to $8.50, reaffirming a “Buy” rating.
There are 428.66K Rigetti Computing option contracts traded on Tuesday, up 64% from the previous trading day. Call options account for 63% of overall option trades. Particularly high volume was seen for the $15 strike call option expiring January 24, with 21,668 contracts trading. The $15 strike call option expiring this Friday surged 750% on Tuesday. RGTI 20250124 15.0 CALL
$Netflix(NFLX)$ shares surged 14.4% in extended trading. The company added 18.9 million subscribers in its fourth quarter to bring its total global subscriber base to nearly 302 million customers - a number that dwarfs its Hollywood streaming rivals.
Traders have made a bet ahead of Netflix's earnings. There are 290.32K option contracts traded on Tuesday, up 114% from the previous trading day. Call options account for 57% of overall option trades. Particularly high volume was seen for the $1000 strike call option expiring January 24, with 7,302 contracts trading. NFLX 20250124 1000.0 CALL
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.
Top 10 bullish stocks: $NVDA(NVDA)$, $TSLA(TSLA)$, $CCL(CCL)$, $SMCI(SMCI)$, $SCHW(SCHW)$, $PEP(PEP)$, $NKE(NKE)$, $HON(HON)$, $WFC(WFC)$, $T(T)$
Top 10 bearish stocks: $AAPL(AAPL)$, $PYPL(PYPL)$, $GOOGL(GOOGL)$, $INTC(INTC)$, $WBA(WBA)$, $BAC(BAC)$, $C(C)$, $GOOG(GOOG)$, $XOM(XOM)$; $AVGO(AVGO)$
Source: Market Chameleon
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$(AAPL)$ $(RGTI)$ $(NVDA)$ $(NFLX)$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.
