U.S. stocks climbed on Friday in thin trading volume during a shortened session after Thanksgiving, driven by gains in retail and a recovery in tech stocks.
Regarding the options market, a total volume of 36,353,068 contracts was traded on Friday, call ratio accounted for 65%.
Top 10 Option Volumes
Top 10: Nvidia; Tesla; Intel; Apple; Meta; Strategy; Amazon; AMD; Alphabet; Palantir
Source: Tiger Trade App
Intel's stock saw a significant 10% rise following reports that the company might start manufacturing Apple’s M processors by 2027. This potential deal could mark a major advancement for Intel’s foundry business, as it would involve producing chips for Apple’s MacBook Air and iPad Pro, aligning with the ‘Made in USA’ policy.
The news, shared by analyst Ming-Chi Kuo, suggests that Intel and Apple are in ongoing discussions, with a non-disclosure agreement already in place. This development could be a turning point for Intel, which has faced challenges in recent years.
A total number of 882.32K options related to Intel was traded on Friday, of which 76% were call options. Call options related to Intel saw huge gains on Friday. For example, the $41 strike call options expiring December 5 rocketed over 700% on Friday.
Source: Tiger Trade App
Unusual Options Activity
Source: Market Chameleon
First Majestic Silver stock rose 12.7% on Friday. Spot silver jumped to a record, surpassing a peak set during a historic squeeze in the London market in October.
Spot prices surged as much as 6.12% to about $56.74 an ounce. The white metal has been supported by rising hopes of a Federal Reserve interest-rate cut in December, inflows into bullion-backed exchange-traded funds and ongoing supply tightness.
Market sentiment for First Majestic Silver stock is quite bullish on Friday. Based on option delta volume, traders bought a net equivalent of 250,077 shares of 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; TSLA; MRK; META; BAC; NFLX; DECK; C; CSCO; MSFT
Top 10 bearish stocks: NVDA; COIN; PFE; GOOGL; QCOM; LULU; EQT; SMCI; AMGN; MO
Source: Market Chameleon
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