U.S. stocks ended slightly lower last Friday (Sep. 5) as investors weighed economic worries against optimism over interest rate cuts by the Federal Reserve after data showed U.S. job growth weakened sharply in August.
Regarding the options market, a total volume of 66,942,569 contracts was traded last Friday.
Top 10 Option Volumes
Top 10: Tesla; Nvidia; Opendoor; Cboe Volatility Index; Broadcom; Palantir; AMD; Apple; Robinhood; Strategy
Tesla Motors shares rallied 4% Friday after the EV maker's board proposed a bumper pay package for CEO Elon Musk that could be worth as much as $1 trillion over the next decade.
A total number of 4.02 million options related to Tesla Motors were traded last Friday, of which call options accounted for 61%. Particularly high volume was seen for the $350 strike call option expiring Sep. 5, with 376,927 contracts trading.
Broadcom reported fiscal third-quarter earnings that beat expectations and provided robust guidance for the current quarter. The stock rose 9% after the company said it had secured $10 billion in orders from a new client for custom chips on Friday.
A total number of 1.43 million options related to Broadcom were traded last Friday, of which call options accounted for 61%. Particularly high volume was seen for the $340 strike call option expiring Sep. 5, with 65,634 contracts trading.
Unusual Options Activity
Opendoor Technologies Inc rose 12% on Friday after EMJ Capital’s Eric Jackson dialed up pressure on the company’s board, while softening an earlier ultimatum to appoint co-founder Keith Rabois. Jackson had warned that delaying Rabois’s board appointment could lead to a potential shareholder lawsuit as early as next Monday, but walked that back Friday morning, citing overwhelming shareholder support as a reason to pause litigation discussions.
A total number of 2.11 million options related to Opendoor Technologies Inc were traded on Friday, of which call options accounted for 73%. Particularly high volume was seen for the $7 strike call option expiring Sep. 5, with 278,619 contracts trading.
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 -1,421,992 shares of NIO Inc. stock. The largest bearish delta came from selling calls. The largest delta volume came from the 19-Sep-25 3.50 Call, with traders getting short 684,261 deltas on the single option contract.
Top 10 bullish stocks: Broadcom; Kenvue; CoreWeave; Sunrun; Chipotle Mexican Grill; Corning; Barrick Mining; Strategy; AGNC Investment; Meta
Top 10 bearish stocks: NIO; Opendoor; Tesla; Core Scientific; Microsoft; AMD; GameStop; Snap; Pfizer; Rocket Companies
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