Options Market Statistics: Intel's Fourth-Quarter Results and First-Quarter Forecast Fall Short, Options Pop
News Highlights
$Tesla(TSLA.US$ shares rose by 0.34%, closing at $183.25. Its options trading volume is 2.79 million. Call contracts account for 47.9% of the whole trading volume. The most traded calls are contracts of $185 strike price that expire on January 26th. The total volume reaches 191,928 with an open interest of 12,672. The most traded puts are contracts of a $180 strike price that expires on January 26th; the volume is 209,308 contracts with an open interest of 34,870.
Tesla, the electric-vehicle maker, has been struggling to match the performance of other big technology stocks in the market. While companies like Microsoft, Meta Platforms, and Nvidia have continued to climb to new highs, fueled by the hype around artificial intelligence, Tesla's stock has fallen by more than 26% in the past four weeks, hitting its lowest level since May.
The company's recent earnings report only added to the negative sentiment, causing the stock to plummet by more than 12% in a single day - its worst drop in over a year. As the broader market continues to set records, Tesla is facing an uphill battle to regain investor confidence.
$Intel(INTC.US$ shares fell by 11.91%, closing at $43.65. Its options trading volume is 0.99 million. Call contracts account for 53.6% of the whole trading volume. The most traded calls are contracts of $44.5 strike price that expire on January 26th. The total volume reaches 29,234 with an open interest of 229. The most traded puts are contracts of a $44 strike price that expires on January 26th; the volume is 29,148 contracts with an open interest of 9,381.
Intel, the chip maker, has reported disappointing fourth-quarter results and a bleak forecast for the first quarter. The company expects revenue in the range of $12.2 billion to $13.2 billion, which is 10% below Wall Street's consensus forecast. This news caused Intel's shares to plummet by nearly 11% on Friday, marking its worst day in over two years.
While Intel typically sees a seasonal drop in business during the first quarter, the midpoint of the forecast calls for an 18% sequential decline in revenue - double the average drop of 9% over the last 10 years. The news has left investors concerned about Intel's ability to compete in the ever-evolving chip market.
Despite disappointing fourth-quarter results and a bleak forecast for the first quarter, Intel is hoping to change the narrative with an upcoming event focused on its efforts to build a foundry business. This business would involve making chips designed by other semiconductor companies.
$Netflix(NFLX.US$ shares rose by 1.50%, closing at $570.42. Its options trading volume is 0.68 million. Call contracts account for 64.7% of the whole trading volume. The most traded calls are contracts of $580 strike price that expire on January 26th. The total volume reaches 60,944 with an open interest of 3,963. The most traded puts are contracts of a $570 strike price that expires on January 26th; the volume is 46,366 contracts with an open interest of 3,060.
Netflix's Chief Legal Officer, David A. Hyman, has sold 47,574 shares of common stocks on January 24, 2024, at an average price of $537.92 per share, for a total value of $25.59 million. This news comes after a period of steady growth for the streaming giant, which has seen an increase in subscribers and revenue due to the pandemic-driven surge in demand for streaming content.
Unusual Stock Options Activity
Some notable call activity is being seen in $Intel(INTC.US$, which is primarily being driven by activity on the 02-Feb-2024 call. Volume on this contract is 21,048 versus open interest of 156.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, CNBC
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