Wall Street's three major indexes closed down around 1% on Monday (Oct. 7) while Treasury yields rose, as traders tamped down bets for Federal Reserve interest-rate easing and worried about the Middle East conflict's impact on oil prices.

Regarding the options market, a total volume of 43,687,629 contracts was traded on Monday.

Top 10 Option Volumes

Top 10: Nvidia; Super Micro Computer; Tesla; Amazon; AMD; Apple; Alibaba; Meta; MicroStrategy; Palantir

Source: Tiger Trade App

NVIDIA Corp shares climbed just over 2% Monday, lifting the chipmaker's market cap to $3.13 trillion, ahead of Microsoft's $3.04 trillion. SUPER MICRO COMPUTER INC, a partner of Nvidia, said it’s shipping more than 100,000 graphics processing units used for artificial intelligence per quarter, helping send shares of both companies higher.

Super Micro shares jumped 16% on Monday.

A total number of 4.60M options related to Nvidia was traded, of which 64% were call options. A particularly high trading volume was seen for the $130 strike call options, with 310,639 options contracts trading as of Friday. $NVDA 20241011 130.0 CALL$

A total number of 1.43M options related to Super Micro was traded, of which 67% were call options. A particularly high trading volume was seen for the $50 strike call options, with 73,891 options contracts trading as of Friday. The $50 strike call option expiring this Friday surged 1671% on Monday. $SMCI 20241011 50.0 CALL$

Source: Tiger Trade App

Unusual Options Activity

Source: Market Chameleon

Chinese ADRs and ETFs extend decline in overnight trading. Direxion Daily FTSE China Bull 3X Shares fell over 19%; Alibaba fell 5%; PDD Holdings Inc fell 9.4%; NIO Inc. fell 9%; JD.com fell 7%.

China's runaway stocks rally began losing steam on Tuesday and Hong Kong shares slumped as officials disappointed markets by providing few specific details on plans to bolster China's slowing economy.

Economic planner chairman Zheng Shanjie told reporters that China was "fully confident" of achieving economic targets and will pull forward 200 billion yuan from next year's budget to spend on investment projects and support local governments.

"Markets were hoping to obtain some guidance on the size of fiscal stimulus," said Eastspring Investments' portfolio manager Rong Ren in Singapore, but found little new in Zheng's remarks.

A total number of 463.06K options related to Alibaba was traded, of which 67% were call options. A particularly high trading volume was seen for the $125 strike call options, with 23,410 options contracts trading as of Friday. $BABA 20241011 125.0 CALL$

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 bought a net equivalent of 5,073,012 shares of NVIDIA Corp stock. The largest bullish delta came from buying calls. The largest delta volume came from the 11-Oct-24 Call, with traders getting long 1,103,190 deltas on the single option contract.

Top 10 bullish stocks: Nvidia; Super Micro Computer; SoFi Technologies; AMD; MicroStrategy; ChargePoint; XPeng; Trump Media; General Motors; United Airlines

Source: Market Chameleon

Top 10 bearish stocks: Amazon; Meta; iQiyi; Apple; Tellurian; Disney; Carnival; B. Riley; Intel; Palantir

Source: Market Chameleon

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