Options Market Statistics: Faraday Future Stock Adds Another 100+% in Giant Short Squeeze Rally
News Highlights
$NVIDIA(NVDA.US$ shares ended 3.58% higher. Its options trading volume was 1.47 million. Call contracts account for 61.3% of the total trading volume.The $900 calls expiring May 17 were traded most actively.
Nvidia rose past a buy point Wednesday after the Google AI Conference showed different ways in which artificial intelligence will improve search. The search giant also previewed an Android feature that will alert users to scams during a phone call. While Google's "tensor" processing units are rivals to Nvidia's chips, Nvidia dominates the data center AI chips market.
Investors await Nvidia's May 22 earnings report, which could be a catalyst for further gains. A disappointing result, however, could send the stock sliding. Current holders with big gains in Nvidia may consider risk management by trimming the position to protect gains and limit downside risk before Nvidia announces earnings.
$Faraday Future Intelligent Electric Inc.(FFIE.US$ shares ended 147.19% higher. Its options trading volume was 0.47 million. Call contracts account for 80.5% of the total trading volume.
Faraday Future, a struggling electric vehicle (EV) maker, has joined the meme stock parade.
It doesn't have the money to make cars, but with 95% of the stock being held short, it's a perfect candidate for a short squeeze. That's what meme stock trades are all about.
$Marathon Digital(MARA.US$ shares ended 11.79% higher. Its options trading volume was 0.33 million. Call contracts account for 74.2% of the total trading volume.The $18 calls expiring May 17 were traded most actively.
Unusual Stock Options Activity
There was a noteworthy activity in $Disney(DIS.US$, where multiple calls have topped volume to open interest ranking. The highes volume over open interest ratio reaches 89.9x with nearly 16,639 contracts.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, The Guardian, Bloomberg
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