Wall Street closed higher on Thursday (June 26), nudging the S&P 500 and the Nasdaq nearer to record closing highs as the Israel-Iran ceasefire continued to hold and a raft of economic indicators appeared to support the case for the U.S. Federal Reserve lowering borrowing costs this year.

Regarding the options market, a total volume of 48,335,535 contracts was traded on Thursday, call ratio accounted for 62%.

Top 10 Option Volumes

Top 10: NVDA; TSLA; AAPL; AMD; SMCI; COIN; AMZN; PLTR; META; CORZ

Source: Tiger Trade App

Shares of Core Scientific surged more than 33% to $16.36 on Thursday and continued to rise 7% in premarket trading. CoreWeave is in talks to acquire Core Scientific, according to people familiar with the matter, after the AI company's unsuccessful attempt to buy the digital-infrastructure firm about a year ago.

Core Scientific is one of the largest owners and operators of high-powered digital infrastructure for bitcoin mining and hosting services in North America, according to the company's website.

The two companies have worked together for years. Last June, they announced a series of 12-year contracts under which Core Scientific would deliver hundreds of megawatts to host CoreWeave's operations, generating billions of dollars in revenue for Core Scientific.

A total number of 576.75K options related to Core Scientific was traded on Thursday, of which call options accounted for 86%. Bullish bets related to CORZ showed big gains. For example, the $15 strike call option expiring this Friday soared 12400%.

Source: Tiger Trade App

Unusual Options Activity

Source: Market Chameleon

Coinbase shares were up 4% to a three-year high on Thursday, capping off a rally fueled by growing acceptance of the cryptocurrency industry on Wall Street and in Washington.

Coinbase shares have surged more than 1,000% from a record low in late 2022, which came as the collapse of FTX raised questions about the future of digital assets. The stock’s comeback occurred as cryptocurrency prices rebounded and the industry won powerful new allies, including US President Donald Trump. Just last month, Coinbase was added to the prestigious S&P 500 Index.

A total number of 805,761 options related to Coinbase was traded on Thursday, of which call options accounted for 70%. Based on option delta volume, traders bought a net equivalent of 508,360 shares of Coinbase stock. The largest bullish delta came from buying calls.

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: INTC; COIN; TFC; ROST; JNPR; TGT; AVGO; AMZN; CVS; KEY

Top 10 bearish stocks: AAPL; SMCI; C; GOOGL; NVDA; AMD; GOOG; BA; MDT; NKE

Source: Market Chameleon

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