Wall Street closed lower on Thursday(Oct 16), with signs of weakness in regional banks spooking investors already on edge over U.S.-China trade tensions.
Regarding the options market, a total volume of 74,216,275 contracts was traded on Thursday.
Top 10 Option Volumes
Source: Tiger Trade App
Rigetti Computing fell 15% on Thursday as traders reassessed the quantum computing company's surging valuation following a sharp year-long rally.
A total number of 565.44K options related to Rigetti Computing were traded on Thursday, up 32% from the previous trading day, of which put options accounted for 69%. Particularly high volume was seen for the $50 strike put option expiring Oct. 17, with 39,115 contracts trading. $RGTI 20251017 50.0 PUT$
Unusual Options Activity
Source: Market Chameleon
Shares of Micron Technology jumped 5% and hit record high of $202.53 on Thursday. Citi analysts raised their price target for Micron's stock.
A total number of 428,291 options related to Micron Technology were traded on Thursday, up 285% from the previous trading day, of which call options accounted for 68%. Particularly high volume was seen for the $200 strike call option expiring Oct. 17, with 28,654 contracts trading. $MU 20251017 200.0 CALL$
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 sold a net equivalent of -817,046 shares of Kenvue Inc stock. The largest bearish delta came from selling calls. The largest delta volume came from the 15-May-26 18 Call, with traders getting long 108,364 deltas on the single option contract.
Source: Market Chameleon
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