Wall Street closed lower on Wednesday (Oct. 22) as a wave of mixed earnings, including Netflix's disappointing results, dampened risk sentiment as investors assessed reports that the Trump administration is considering curbs on exports to China made with U.S. software.

Regarding the options market, a total volume of 60,887,440 contracts was traded on Wednesday, call ratio accounted for 59%.

Top 10 Option Volumes

Top 10: BYND; NVDA; TSLA; AAPL; PLTR; AMD; AMZN; INTC; OPEN; NFLX

Source: Tiger Trade App

Intel is expected to report earnings after the market closes on Thursday. Analysts expect another quarter of essentially stagnant revenue growth. Thursday’s report will put Intel’s stock surge to the test, as shares have rallied 62% since the last report.

Intel’s personal computer and server segments are providing “a better industry backdrop than we had previously contemplated,” Wedbush’s Matt Bryson said. Recent increases in average sale prices on older PC models could give a boost to revenue and margin performance in the fourth quarter, he added, while growing artificial-intelligence demand “appears to have also spurred additional standard compute requirements.”

Open interest for INTC expiring this week showed moderately bearish sentiment as Call open interest totaled at 168,188, while Puts stood at 192,508. Put-Call open interest ratio reached 1.14.

Source: OptionCharts

Unusual Options Activity

Source: Market Chameleon

Beyond Meat shares sank 1% on Wednesday and plummeted another 16% in premarket trading on Thursday, marking a sharp reversal from the meme stock frenzy that had propelled the plant-based meat company's stock to astronomical heights in recent days.

A total number of 3.17 million options related to Beyond Meat was traded on Wednesday, of which 57% were call options. A particularly high volume was seen for the $3 strike put option expiring this Friday, with a total number of 146,572 contracts trading as of Thursday.

Source: Market Chameleon

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: BSX; NEM; T; CNC; MU; GEV; FSLR; PSKY; VZ; TMUS

Top 10 bearish stocks: INTC; HOOD; GOOGL; PYPL; NVDA; COIN; PLTR; CVS; NFLX; TSLA

Source: Market Chameleon

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