Options Market Statistics: Unusual Call Options Activity in MPLX and Advanced Micro Devices
News Highlights
U.S. stocks fell Wednesday, giving up their initial gains, after the Federal Reserve approved raising interest rates to their highest level in 16 years.
$Tesla(TSLA.US$ shares edged higher by 0.19%, with option volume of 1.93 million, and puts accounted for 58.8%. The 165.00 calls and 160.00 puts expiring Friday lead the flow with a volume of 165,723 and 134,997, respectively.
Tesla Inc has restarted taking orders for its Model 3 Long Range in the U.S. after an eight-month-long pause. The Tesla Model 3 Long Range is now available to order on Tesla's website for $47,240, with deliveries estimated in June. The vehicle previously cost $57,990, indicating an 18.5% cut in price.
$Advanced Micro Devices(AMD.US$ shares down 9.22%, with option volume of 0.88 million, doubling its 30-day average volume, and calls accounted for 57.8%.
The Santa Clara, California-based company reported first-quarter earnings and revenue that went past muted consensus expectations. Revenue and earnings per share came in at $5.35 billion and $0.60, respectively, ahead of the consensus estimates of $5.30 billion and $0.57 per share.
Investors are worried about the sharp plunge in client revenue and operating income from the data center business. Data center revenue held flat year-over-year, as cloud strength offset lower enterprise revenue.
Advanced Micro Devices Inc. shares fell in the trading session Wednesday as the chip maker highlighted its AI and data-center products for the second half of the year, but admitted it will take a rebound in the PC market to improve gross margins.
$AMC Entertainment(AMC.US$ shares up 4.36%, with option volume of 0.58 million, and puts accounted for 54.8%.
Meme stock Top Financial Group Ltd. rose 8.9% in premarket trades Tuesday after ending Monday's session down 52.4%. The Hong Kong-based broker, which has been enjoying popularity with the Reddit group WallStreetBets, hit a record high last week. WallStreetBets has been a key player in the meme stock phenomenon that fueled rallies in AMC Entertainment Holdings Inc., GameStop Corp., and Bed Bath & Beyond Inc.
$MPLX LP(MPLX.US$ shares edged up 0.36%, with option volume of 0.40 million, 19 times its 30-day average volume, and calls accounted for 99.7%.
MPLX reports first-quarter 2023 financial results on Tuesday. Raymond James analyst Justin Jenkins maintains MPLX with a Outperform and raises the price target from $40 to $42.
Unusual Stock Options Activity
There were noteworthy activities in $MPLX LP(MPLX.US$ and $Advanced Micro Devices(AMD.US$ ,where multiple calls have topped volume to open interest ranking. The highest volume for MPLX over open interest ratio reaches 228x with 59,405 contracts, and the highest volume for AMD over open interest ratio reaches 101x with 47,468 contracts.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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Source: Benzinga, WSJ
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