Options Market Statistics: Intel Stock Falls as China Pushes Telecoms to Drop Foreign Chips, Options Pop
News Highlights
$Intel(INTC.US$ shares fell by 5.16%, closing at $35.69. Its options trading volume was 0.43 million. Call contracts account for 54% of the total trading volume. The most traded calls are contracts of $39 strike price that expire on Apr. 19th. The total volume reaches 14,694 with an open interest of 10,770. The most traded puts are contracts of a $37 strike price that expires on Apr. 12th; the volume is 16,441 contracts with an open interest of 15,605.
Chinese officials issued the directive earlier this year for the telecom systems to replace non-Chinese core processors by 2027, the Journal reported, citing people familiar with the matter. The report said the mandate would impact $Advanced Micro Devices(AMD.US$ and Intel. China accounted for 27% of Intel's revenue in 2023, making it the company's biggest market.
Chinese telecom carriers' procurements show they are switching more to domestic alternatives, a move made possible in part because local chips' quality has improved and their performance has become more stable, the people said.
$JPMorgan(JPM.US$ shares fell by 6.47%, closing at $182.79. Its options trading volume was 0.42 million. Call contracts account for 63.2% of the total trading volume. The most traded calls are contracts of $187.5 strike price that expire on Apr. 12th. The total volume reaches 23,194 with an open interest of 124. The most traded puts are contracts of a $182.5 strike price that expires on Apr. 12th; the volume is 15,750 contracts with an open interest of 2,897.
JPMorgan Chase's profit beat estimates in the first quarter, but its shares fell 6% after forecasts for interest income fell short of analysts' expectations on Friday.
The largest U.S. lender slightly increased its estimate for net interest income (NII), or the difference between what a bank earns on loans and pays out for deposits. But investors wanted more, hoping that the bank would reap greater benefits from a prolonged period of higher interest rates.
CEO Jamie Dimon in a statement reiterated his cautious view on "a number of significant uncertain forces" that could weigh on the economic outlook, including "unsettling" global conflicts, persistent inflationary pressure and quantitative tightening.
Unusual Stock Options Activity
Some notable put activity is being seen in $Meta Platforms(META.US$, which is primarily being driven by activity on the Jun 18 Call. Volume on this contract is 95,263 versus open interest of 188.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, WSJ, Reuters
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