Options Market Statistics: Meta Options Pop, Shares Plunge on Weak Revenue Guidance
News Highlights
$Tesla(TSLA.US$ shares rose by 12.06%, closing at $162.13. Its options trading volume was 4.03 million. Call contracts account for 46.1% of the total trading volume. The most traded calls are contracts of $165 strike price that expire on Apr. 26th. The total volume reaches 196,809 with an open interest of 36,733. The most traded puts are contracts of a $160 strike price that expires on Apr. 26th; the volume is 229,042 contracts with an open interest of 13,983.
Tesla shares jumped around 12% after the EV maker's vow to speed up the launch of more affordable models eclipsed its quarterly earnings and revenue miss. That cheered up investors worried about growth amid a strategy shift to robotaxis and the planned cancellation of a cheaper model.
$Meta Platforms(META.US$ shares fell by 0.52%, closing at $493.50. Its options trading volume was 0.64 million. Call contracts account for 60.3% of the total trading volume. The most traded calls are contracts of $550 strike price that expire on Apr. 26th. The total volume reaches 18,020 with an open interest of 5,914. The most traded puts are contracts of a $450 strike price that expires on Apr. 26th; the volume is 11,297 contracts with an open interest of 3,570.
Meta shares plunged 16% in extended trading on Wednesday after the company issued a light forecast, which overshadowed better-than-expected first-quarter results. One reason for the pop in net income is that, while revenue growth accelerated, sales and marketing costs dropped 16% from the year-earlier period.
In addition to the downbeat Q2 forecast, Meta CFO Susan Li raised the company's full-year total expenses estimate from a range between $94 billion-$99 billion to between $96 billion-$99 billion due to higher infrastructure and legal costs.
On the upside, once our new AI services reach scale, we have a strong track record of monetizing them effectively," Zuckerberg said.
$Ford Motor(F.US$ shares rose by 0.08%, closing at $12.95. Its options trading volume was 0.34 million. Call contracts account for 62% of the total trading volume. The most traded calls are contracts of $13.5 strike price that expire on Apr. 26th. The total volume reaches 41,202 with an open interest of 36,800. The most traded puts are contracts of a $12 strike price that expires on Apr. 26th; the volume is 12,963 contracts with an open interest of 16,108.
For the quarter ended March 2024, Ford Motor Company reported revenue of $39.89 billion, up 2.1% over the same period last year. EPS came in at $0.49, compared to $0.63 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $40.55 billion, representing a surprise of -1.63%. The company delivered an EPS surprise of +16.67%, with the consensus EPS estimate being $0.42.
Unusual Stock Options Activity
Some notable call activity is being seen in $Capri Holdings(CPRI.US$, which is primarily being driven by activity on the May 17 Call. Volume on this contract is 62,177 versus open interest of 118.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, WSJ, Reuters
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