Options Market Statistics: Alphabet Shares Soar And Options Pop as Wall Street Cheers Arrival of AI Model Gemini
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$Alphabet-A(GOOGL.US$ shares rose by 5.31%, closing at $136.93. Its options trading volume is 0.83 million. Call contracts account for 61.4% of the whole trading volume.
Shares of Google closed up 5% Thursday, a day after the company announced its latest artificial intelligence model called Gemini that will compete with products from OpenAI, $Microsoft(MSFT.US$ and $Meta Platforms(META.US$.
Analysts at Bank of America said Wednesday that Alphabet has been under pressure from concerns over Google's AI capabilities this year, so a "well-branded," competitive model could have upsides for its consumer search activity and Cloud enterprise sales.
We think Google has strong AI capabilities, and data suggesting that Google has best in class, proprietary, AI capabilities can be positive for the shares in 1H′24," the analysts wrote in a note.
$Nikola(NKLA.US$ shares fell by 23.39%, closing at $0.7526. Its options trading volume is 0.76 million. Call contracts account for 23.9% of the whole trading volume.
The drop is due to Nikola's latest announcement that it is seeking to raise more money through new offerings of both common stock and convertible senior notes. The company expects to raise $100 million through the stock sale and another $200 million from the sale of convertible bonds.
Current shareholders will own less of the company as a result of the capital raise just announced. And it comes after Nikola already diluted shareholders in the third quarter through other fundraising moves. Some of the need for more capital comes after a recall of about 200 of its battery-electric trucks cost the company $62 million.
$Kenvue(KVUE.US$ shares rose by 7.32%, closing at $20.81. Its options trading volume is 0.41 million. Call contracts account for 60.8% of the whole trading volume.
Unusual Stock Options Activity
Some notable put activity is being seen in $Advanced Micro Devices(AMD.US$, which is primarily being driven by activity on the Dec 8th 126.00 put. Volume on this contract is 32,572 versus open interest of 213.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC, Reuters
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