Options Market Statistics: SoFi Slumps on Plan to Sell Up to $862.5 Million in Convertible Bonds, Options Pop
News Highlights
$Apple(AAPL.US$ shares fell by 2.84%, closing at $170.12. Its options trading volume is 1.72 million. Call contracts account for 51.2% of the total trading volume. The most traded calls are contracts of $172.5 strike price that expire on Mar 8th. The total volume reaches 79,814 with an open interest of 3,792. The most traded puts are contracts of a $170 strike price that expires on Mar 8th; the volume is 70,421 contracts with an open interest of 19,952.
Apple's Wall Street woes continued Tuesday as shares of the iPhone maker headed toward their lowest level in more than four months as investor anxiety mounts about Apple's artificial intelligence efforts and its slumping China business.
The primary catalyst for Tuesday's losses was a report from Hong Kong-based Counterpoint Research indicating iPhone sales fell 24% year-over-year over the first six weeks of 2024, an unwelcome finding considering China accounts for more than 15% of Apple's revenues and sales in the region already fell 13% in Apple's most recent quarter, on an annual basis.
The reported slump in iPhone sales in China, which builds on the slow iPhone growth narrative weighing on Apple earlier this year, coincides with mounting analyst concerns about Apple falling behind its big tech peers in AI.
$SoFi Technologies(SOFI.US$ shares fell by 15.27%, closing at $7.27. Its options trading volume is 0.78 million. Call contracts account for 51.2% of the total trading volume. The most traded calls are contracts of $12 strike price that expire on May 17th. The total volume reaches 28,979 with an open interest of 26,931. The most traded puts are contracts of a $6.5 strike price that expires on Mar 22nd; the volume is 89,200 contracts with an open interest of 1,082.
Shares of SoFi Technologies tumbled 15% Tuesday, after it said it was planning to sell up to $862.5 million in convertible bonds.
The online financial services company will offer $750 million in convertible senior notes due March 2029, and buyers will have an option to purchase $112.5 million more.
SoFi said it will use part of the proceeds to pay for capped call transactions to limit the dilution to shareholders of the convertible bond offering.
Shares of SoFi Technologies (SOFI) tumbled 13% Tuesday, after the online financial services provider said it was planning to sell up to $862.5 million in convertible bonds.
$Intel(INTC.US$ shares fell by 5.37%, closing at $43.16. Its options trading volume is 0.42 million. Call contracts account for 64.7% of the total trading volume. The most traded calls are contracts of $45 strike price that expire on Mar 8th. The total volume reaches 24,544 with an open interest of 17,911. The most traded puts are contracts of a $43 strike price that expires on Mar 8th; the volume is 15,809 contracts with an open interest of 8,692.
Unusual Stock Options Activity
Some notable call activity is being seen in $Tesla(TSLA.US$, which is primarily being driven by activity on the March 8th call. Volume on this contract is 68,687 versus open interest of 564.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, Barron's, The Motley Fool
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