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Options Market Statistics: Marathon Digital Shares Drop 12.67%, Analysts Lower Price Target, Options Pop

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Options Newsman wrote a column · May 10 20:08
News Highlights
$Tesla(TSLA.US)$ shares ended 2.04% lower. Its options trading volume was 2.00 million. Call contracts account for 53.0% of the total trading volume. The most traded calls are contracts of $170 strike price that expire on May 10th. The total volume reaches 134,874 with an open interest of 19,102.
BP's electric vehicle charging unit is reportedly looking to buy Tesla supercharging sites, including the workers at the locations, according to a report. BP plans to spend $1 billion by 2030 to install more than 3,000 charging locations across the US, with about $500 million of that to be spent over the next two to three years. The plan is to build high-capacity charging locations with 12 or more charging stations each, which it would call "Gigahubs."
The move comes after Tesla fired 500 employees responsible for expanding its Supercharger network. BP signed a deal with Tesla last year to obtain about $100 million of the company's supercharger hardware.
$Marathon Digital(MARA.US)$ shares ended 12.67% lower, with option volume of nearly 0.43 million contracts, and calls accounted for 64.2% of the volume. The most traded calls are contracts of $21 strike price that expire on May 10th. The total volume reaches 10,493 with an open interest of 14,934.
B. Riley Securities analyst Lucas Pipes has lowered his price target for Marathon Digital Holdings to $18 from $19 while maintaining a Neutral rating on the stock. The move follows Marathon's Q1 earnings miss after excluding gains on digital assets and non-recurring items.
Pipes said the company underperformed on elevated power and operating costs compared to his estimates, while revenue was also lower than anticipated. He added that as long as fully loaded production costs are above bitcoin prices, the equity is likely to continue to underperform its BTC benchmark. Needham analyst John Todaro reiterated a Hold rating on Marathon, despite liking the improved costs for the remainder of fiscal 2024.
$Alphabet-A(GOOGL.US)$ shares ended 0.77% lower, with option volume of nearly 0.42 million contracts, and calls accounted for 65.1% of the volume. The most traded calls are contracts of $170 strike price that expire on May 10th. The total volume reaches 11,666 with an open interest of 8,108. The most traded puts are contracts of a $140 strike price that expires on May 17th; the volume is 13,504 contracts with an open interest of 16,416.
Google Cloud will be powering Mandiant's Incident Response and Managed Detection and Response services in an expanded partnership with CrowdStrike. The collaboration will utilize the CrowdStrike Falcon platform and the Google Cloud Security Operations platform, with a focus on CrowdStrike's Endpoint Detection and Response, Identity Threat Detection and Response, and Exposure Management solutions. The partnership aims to leverage Google's artificial intelligence-powered cloud services and CrowdStrike's protection platform to help customers prevent breaches across multiple environments.
Options Market Statistics: Marathon Digital Shares Drop 12.67%, Analysts Lower Price Target, Options Pop
Unusual Stock Options Activity
There was a noteworthy activity in $Novavax(NVAX.US)$, where multiple calls have topped volume to open interest ranking. The highest volume over open interest ratio reaches 118.6x with nearly 16,478 contracts.
Options Market Statistics: Marathon Digital Shares Drop 12.67%, Analysts Lower Price Target, Options Pop
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Options Market Statistics: Marathon Digital Shares Drop 12.67%, Analysts Lower Price Target, Options Pop
Source: Barchart, Unusual Whales, The Guardian, Bloomberg
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