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Options Market Statistics: Target Shares Soar Nearly 18% as Third-Quarter Earnings Blow Past Expectations, Options Pop

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Options Newsman wrote a column · Nov 15, 2023 18:18
News Highlight
$Tesla(TSLA.US)$ shares rose by 2.29%, closing at $242.84. Its options trading volume is 2.99 million. Call contracts account for 59.3% of the whole trading volume.
Ark Invest's Cathie Wood believes Tesla is the biggest artificial intelligence (AI) player in the world.
Tuesday on CNBC's "Squawk Box," Wood stressed the importance of Tesla's access to proprietary data. Five million robots around the world collect data every day and send it back to Tesla," Wood said, referring to the company's vehicles. Tesla has more corner cases, which means disengagements, accidents, information like that, than all of the other companies in the world combined."
AI relies on data and Tesla has a lot of it. Recent breakthroughs in AI are "astounding," Wood said, adding that as AI advances, we get closer and closer to fully autonomous vehicles.
$Target(TGT.US)$ shares rose by 17.75%, closing at $130.46. Its options trading volume is 0.35 million. Call contracts account for 62.5% of the whole trading volume.
Target shares gained 18% Wednesday after the big-box retailer posted earnings that blew past analysts' expectations, as a reduction in costs offset continued declines in sales as consumers cut back on discretionary spending.
Net income surged 36% from a year ago to $971 million, or $2.10 per share. That was above the high end of the company's guidance range, and well above the consensus analysts' estimate. Despite this, revenue fell 4.2% from the year-ago quarter to $25.4 billion, driven by a 4.9% decline in comparable store sales.
$Marathon Digital(MARA.US)$ shares rose by 11.67%, closing at $10.24. Its options trading volume is 0.32 million. Call contracts account for 76.8% of the whole trading volume.
Most major digital assets surged on Wednesday, in sync with US equity indexes, after the US reported a surprise easing of its producer price inflation in October.
Bitcoin, the largest cryptocurrency by market value, was changing hands at $37,432, up 6.5% in the past 24 hours, after touching a day high of $37,719, data from CoinMarketCap data showed. Trading volume was $26.04 billion, up 5.4%.
Options Market Statistics: Target Shares Soar Nearly 18% as Third-Quarter Earnings Blow Past Expectations, Options Pop
Unusual Stock Options Activity
Some notable put activity is being seen in $Tesla(TSLA.US)$, which is primarily being driven by activity on the Nov 17th 242.50 put. Volume on this contract is 52,725 versus open interest of 735.
Options Market Statistics: Target Shares Soar Nearly 18% as Third-Quarter Earnings Blow Past Expectations, Options Pop
Daily Active Index & Sector ETF Options
Options Market Statistics: Target Shares Soar Nearly 18% as Third-Quarter Earnings Blow Past Expectations, Options Pop
Source: Benzinga, Dow Jones, CNBC
Disclaimer: Options trading entails significant risk and is not appropriate for all investors. Certain complex option strategy carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Option. This article is for information and illustrative purposes only, and is not a promotion of option trading or a recommendation of any of the specific option mentioned above.
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