Market Overview
Wall Street extended its rally on Wednesday (Nov. 26) as revived tech strength and the increasing probability of a December interest rate cut from the U.S. Federal Reserve put investors in a buying mood the day before the Thanksgiving holiday.
Regarding the options market, a total volume of 56,026,288 contracts was traded, roughly unchanged from the previous trading day.
Top 10 Option Volumes
Top 10: NVDA, TSLA, AAPL, VIX, MSTR, AMD, PLTR, AMZN, HOOD, META
Source: Tiger Trade App
Robinhood shares popped 10.9% on Wednesday as the trading platform said it would expand its fastest-growing product line, prediction markets.
Shares of the online broker jumped after the company announced the launch of a futures and derivatives exchange with market maker Susquehanna International in order to expand its prediction-market offerings, a service where users can bet on outcomes ranging from sports results to Federal Reserve interest rate decisions.
There are 581.88K Robinhood option contracts traded on Wednesday, up 161% from the previous trading day. Call options account for 68% of overall option trades. Particularly high volume was seen for the $125 strike call option expiring November 28, with 31,179 contracts trading. HOOD 20251128 125.0 CALL
Unusual Options Activity
Source: Market Chameleon
Beyond Meat stock soared 19% on Wednesday. So it may come as a surprise to learn that the company has just been hit with a $38.9 million legal defeat in a trademark infringement case.
It is likely retail investors at work. Beyond Meat became a meme stock driven by social media hype last month. Shares soared more than 300% in about a week before giving back most of those gains.
There are 449.48K Beyond Meat option contracts traded on Wednesday, up 589% from the previous trading day. Call options account for 86% of overall option trades. Particularly high volume was seen for the $1 strike call option expiring November 28, with 116,706 contracts trading. BYND 20251128 1.0 CALL
Broadcom shares on Wednesday traded above their record-high closes. New research shows investors exactly why there should be more upside ahead for the two Club holdings.
Bernstein analysts said in a note Broadcom "would be a clear winner" of a reported chip deal in the works between Meta and Google, as both Google's custom chip partner of choice and a supplier for Meta.
There are 433.27K Broadcom option contracts traded on Wednesday, up 27% from the previous trading day. Call options account for 59% of overall option trades. Particularly high volume was seen for the $400 strike call option expiring November 28, with 24,885 contracts trading. AVGO 20251128 400.0 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.
Based on option delta volume, traders bought a net equivalent of 904,406 shares of Tesla stock. The largest bullish delta came from buying calls. The largest delta volume came from the 28-Nov-25 390 Call, with traders getting long 511,928 deltas on the single option contract. TSLA 20251128 390.0 CALL
Top 10 bullish stocks: TSLA, HOOD, KVUE, KR, PLTR, AVGO, PSKY, BAC, WMT, HPQ
Top 10 bearish stocks: WYNN, AAPL, AMZN, LULU, AMD, MSFT, CRM, GOOG, COIN; DOW
Source: Market Chameleon
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