Options Market Statistics: Nvidia Reportedly Launching Chips for China Market, Options Pop
News Highlight
$Tesla(TSLA.US$ shares fell by 5.46%, closing at $209.98. Its options trading volume is 2.98 million. Call contracts account for 57.9% of the whole trading volume.
Tesla raised the prices of the long-range versions of the Model 3 and Model Y slightly in China, as a continuation of the Model Y Performance price hike it made at the end of last month. For these moves, the company said it's due to cost increases.
The price increase is due to rising costs, and there are no changes to the vehicle's configuration, local media outlet Elephant News quoted a Tesla customer service staff as saying today.
It's normal for car prices to go up and down, and if costs go down, prices may go down, the staff said.
While Tesla staff blamed the price hike on rising costs, it's actually more likely that they're meant to motivate potential customers who are still on the sidelines to place orders.
In terms of cost, the price of batteries, which have a big impact on the cost of EVs, has been coming down over the past few months. In many EV models, the battery pack can account for 30 to 40 percent of the vehicle's cost.
$NVIDIA(NVDA.US$ shares rose by 0.81%, closing at $469.50. Its options trading volume is 1.68 million. Call contracts account for 53.3% of the whole trading volume.
Nvidia is reportedly launching three microchips specifically for China, after getting blocked by the U.S. government from selling high-end chips there.
The Star Market Daily said three chips from Nvidia for China will be announced as early as next week, according to a Reuters report.
In October, Nvidia disclosed that seven of its microchips were restricted from being exported to China. Nvidia said the licensing requirement may impact the company's ability to complete development of products in a timely manner and support existing customers.
The move comes after $Baidu(BIDU.US$, which operates a large language model called Ernie, was said to have ordered chips from Huawei instead of Nvidia, whose stock has surged this year on the back of demand for its artificial intelligence processing chips.
$Coinbase(COIN.US$ shares rose by 5.14%, closing at $92.86. Its options trading volume is 0.40 million. Call contracts account for 59.8% of the whole trading volume.
According to a Cointelegraph report, the window for approval of the first spot Bitcoin ETF opens today, a key event that market participants are watching closely.
The series of events that led to the impending approval of Bitcoin spot ETFs started with Grayscale's landmark victory against the SEC. In the DC Court of Appeals, Grayscale's victory meant that the SEC can no longer deny spot bitcoin ETFs under reasons it has given in the past.
Grayscale's victory laid the foundation for a spot Bitcoin ETF approval, however industry watchers note that the probability of approval by the regulator is 90%, on or before the January 10 deadline.
Unusual Stock Options Activity
Some notable put activity is being seen in $NVIDIA(NVDA.US$, which is primarily being driven by activity on the Nov 10th 470.00 put. Volume on this contract is 115,451 versus open interest of 1,954.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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