Wall Street ended sharply higher on Monday(Mar 16), fueled by gains in AI-related stocks, with Meta Platforms climbing after a report that it is preparing for sweeping layoffs, while oil prices retreated amid ongoing uncertainty about the Middle East conflict.
Regarding the options market, a total volume of 55,844,035 contracts was traded on Monday.
Top 10 Option Volumes
Top 10: NVIDIA, Tesla Motors, Cboe Volatility Index, Microsoft, Amazon.com, Apple, SoFi Technologies Inc., Meta Platforms, Inc., Intel, Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing stock rose 1% on Monday.
A total number of 545.26K options related to Taiwan Semiconductor Manufacturing were traded on Monday, of which call options accounted for 86%. Particularly high volume was seen for the $290 strike call option expiring Mar 20, with 66,621 contracts trading.
NVIDIA shares rose 2% after CEO Jensen Huang, addressing crowds at the company’s biggest annual event, unveiled a variety of new products while predicting that its flagship AI processors would help generate $1 trillion in sales through 2027.
During a 2 1/2-hour keynote address, Huang announced plans to push deeper into central processing units — Intel Corp.’s home turf — and introduced semiconductors made with technology acquired from startup Groq. The company even said it was developing chips for data centers in outer space.
A total number of 3.30 million options related to NVIDIA were traded on Monday, of which call options accounted for 63%. Particularly high volume was seen for the $185 strike call option expiring Mar 16, with 270,988 contracts trading.
Unusual Options Activity
Shares of NEBIUS jumped 15% on Monday after the company said it had signed a long-term deal with Meta to supply large-scale AI cloud power. The deal could reach up to $27 billion over five years.
A total number of 232.68K options related to NEBIUS were traded on Monday, of which call options accounted for 65%. Particularly high volume was seen for the $130 strike call option expiring Mar 20, with 10,619 contracts trading. For example, the $130 strike call option expiring this Friday soared 578%.
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: NVIDIA, Warner Bros. Discovery, Ford, Ondas Holdings Inc., Advanced Micro Devices, Olaplex Holdings, Inc., Tesla Motors, Pfizer, MARA Holdings, Clover Health Corp
Top 10 bearish stocks: United Airlines, Block, Inc., Freeport-McMoRan, SoFi Technologies Inc., SUPER MICRO COMPUTER INC, Opendoor Technologies Inc, Intel, Hecla Mining, Unity Software Inc., GameStop
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