Options Market Statistics: Intel Stock Falls on Disappointing Forecasts, Options Pop
News Highlights
$Intel(INTC.US$ shares fell by 9.20%, closing at $31.88. Its options trading volume was 0.97 million. Call contracts account for 64.8% of the total trading volume. The most traded calls are contracts of $36 strike price that expire on May 17th. The total volume reaches 7,280 with an open interest of 6,935. The most traded puts are contracts of a $64 strike price that expires on May 17th; the volume is 7,933 contracts with an open interest of 7,509.
Intel has provided a disappointing forecast for the current period, indicating that it is still struggling to regain its position as a top-tier player in the chip industry. The company stated that sales in Q2 would reach approximately $13 billion, falling short of the average analyst estimate of $13.6 billion. Furthermore, the projected profit will be 10 cents per share, excluding certain items, compared to the expected 24 cents. These predictions suggest that CEO Pat Gelsinger's efforts to revamp Intel will require more resources and time.
$Snap Inc(SNAP.US$ shares surged by 27.63%, closing at $14.55. Its options trading volume was 0.68 million. Call contracts account for 65.2% of the total trading volume. The most traded calls are contracts of $14 strike price that expire on Apr. 26th. The total volume reaches 22,815 with an open interest of 3,437. The most traded puts are contracts of a $8.5 strike price that expires on Apr. 26th; the volume is 9,433 contracts with an open interest of 5,188.
Snap reported a loss in its Q1 results. However, Daily Active Users increased by 10% YoY to reach 422 million. Snap also stated that it added over 1,500 Snap Stars during the quarter, which has contributed to growth in Story posts, Spotlight posts, and Stories time spent. Thanks to these achievements, the company's quarterly sales reached $1.195 billion, surpassing the analyst consensus estimate of $1.12 billion by 6.74%, showing a 20.88% increase over sales of $988.608 million from the same period last year.
$NVIDIA(NVDA.US$ shares rose by 6.18%, closing at $877.35. Its options trading volume was 2.70 million. Call contracts account for 62.7% of the total trading volume. The most traded calls are contracts of $850 strike price that expire on Apr. 26th. The total volume reaches 55,948 with an open interest of 10,158. The most traded puts are contracts of a $800 strike price that expires on Apr. 26th; the volume is 81,500 contracts with an open interest of 8,008.
Following impressive earnings reports from top tech firms like $Microsoft(MSFT.US$ and $Alphabet-C(GOOG.US$, the market rallied and shares of Nvidia surged by 6.2% during the afternoon session. The earnings reports emphasized the high demand for AI solutions, particularly the advanced AI chips that power the majority of AI applications, which are developed by Nvidia and its competitors.
Unusual Stock Options Activity
Some notable call activity is being seen in $Microsoft(MSFT.US$, which is primarily being driven by activity on the August 16 Call. Volume on this contract is 46,921 versus open interest of 138.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, WSJ, Reuters
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