Market Overview

Wall Street lost ground on Tuesday(Dec. 31) as investors closed the book on a remarkable year for equities, during which the U.S. stock market was powered to record highs by the twin engines of the artificial-intelligence boom and the U.S. Federal Reserve's first interest rate cuts in three-and-a-half years.

Regarding the options market, a total volume of 35,727,367 contracts was traded.

Top 10 Option Volumes

Top 10: Nvidia, Tesla, MicroStrategy, Apple, Palantir, AMD, CBOE Volatility Index, Rivian, Mara Holdings, Amazon.com

Tesla Motors fell for a fourth consecutive day on Tuesday, taking some of the shine off a tremendous late-year rally. Shares of the electric-vehicle maker closed 3.3% lower at $403.84.

There are 1.65 million Tesla Motors option contracts traded on Tuesday. Call options account for 59% of overall option trades. Particularly high volume was seen for the $400 strike put option expiring Jan. 3, with 48,970 contracts trading. The $400 strike put option expiring this Friday surged 76% on Tuesday. $TSLA 20250103 400.0 PUT$

Unusual Options Activity

Rigetti Computing fell 10% on Tuesday.

There are 213.77K Rigetti Computing option contracts traded on Tuesday. Particularly high volume was seen for the $18 strike call option expiring Jan. 3, 2025, with 12,184 contracts trading. $RGTI 20250103 18.0 CALL$

Faraday Future Intelligent Electric Inc. fell 23% on Tuesday. Faraday Future FX prototype car will be unveiled at CES 2025 in Las Vegas on January 5-7. The company is also expected to provide a strategy update at CES.

There are 156.78K Faraday Future Intelligent Electric Inc. option contracts traded on Tuesday. Particularly high volume was seen for the $3 strike call option expiring Jan. 3, 2025, with 15,207 contracts trading. $FFIE 20250103 3.0 CALL$

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 sold a net equivalent of -2,356,762 shares of NVIDIA stock. The largest bearish delta came from selling calls. The largest delta volume came from the 03-Jan-25 Call, with traders getting short 629,976 deltas on the single option contract.

Top 10 bullish stocks: NextDecade, Riot Platforms, Tyson Foods, TeraWulf, Comstock, U.S. Steel, Archer Aviation, Nikola, Pacific Biosciences of California, Snap

Top 10 bearish stocks: Nvidia, Tesla, SoundHound AI, AMD, Apple, Denison Mines, Nio, Alphabet, Mersana Therapeutics, Quantum Computing

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