Options Market Statistics: Coinbase Shares Rise and Options Pop as the Approval of Spot Bitcoin ETFs Could Substantially Shape the Crypto Sector
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$NVIDIA(NVDA.US$ shares fell by 2.46%, closing at $487.16. Its options trading volume is 2.49 million. Call contracts account for 63.6% of the whole trading volume.
Nvidia has once again wowed Wall Street — and analysts see massive upside ahead for the dominant maker of chips used in artificial intelligence.
Led by CEO and co-founder Jensen Huang, Nvidia tripled its revenue in its latest quarterly results late Tuesday, handily beating analysts' estimates. Nvidia forecast revenue of $20 billion for the fourth quarter, which would equate to growth of more than 230%.
But the stock saw muted moves early Wednesday, falling about 2% despite the strong report. Some analysts chalked that up to concerns about whether demand will prove sustainable, especially in the wake of export restrictions on sales to businesses in countries such as China. Nvidia said it will feel a negative effect from the ban in the current quarter. The stock reaction may also simply reflect the fact Nvidia has more than tripled in 2023, climbing 230% — far and away the best performance in the S&P 500 — and 19% in November alone.
$Tesla(TSLA.US$ shares fell by 2.90%, closing at $234.21. Its options trading volume is 2.55 million. Call contracts account for 61.8% of the whole trading volume.
$Coinbase(COIN.US$ shares rose by 3.56%, closing at $109.25. Its options trading volume is 0.23 million. Call contracts account for 70.8% of the whole trading volume.
With the forthcoming decision on several spot Bitcoin exchange-traded funds (ETF) proposals, the potential implications for the cryptocurrency sector and Coinbase have sparked divergent views among industry experts.
A CoinDesk report revealed that the U.S. Securities and Exchange Commission (SEC) is on the brink of deciding on a host of applications for spot bitcoin ETFs. The applicants include heavyweights in asset management such as BlackRock, Fidelity, and Franklin Templeton.
Pantera Capital's Managing Partner, Dan Morehead, indicated that the approval of these ETFs could substantially shape the crypto sector.
Unusual Stock Options Activity
Some notable call activity is being seen in $The Kraft Heinz(KHC.US$, which is primarily being driven by activity on the Dec 1st 35.00 call. Volume on this contract is 28,599 versus open interest of 398.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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