Options Market Statistics: Target Stock Jumps Despite Guidance Cut, Options Pop
News Highlights
$Target(TGT.US$ shares rose by 2.96%, closing at $128.75. Its options trading volume is 0.40 million. Call contracts account for 48.2% of the whole trading volume. The most traded calls are contracts of $135 strike price that expire on August 18th. The total volume reaches 16,555 with an open interest of 11,583. The most traded puts are contracts of a $130 strike price that expires on August 18th; the volume is 15,431 contracts with an open interest of 4,552.
Target reported fiscal Q2 adjusted earnings Wednesday of $1.80 per diluted share, up from $0.39 a year earlier. Analysts polled by Capital IQ expected $1.42. Revenue for the quarter ended July 29 was $24.77 billion, compared with $26.04 billion a year earlier. Analysts surveyed by Capital IQ expected $25.23 billion.
For fiscal Q3, the retailer said it expects adjusted EPS of $1.20 to $1.60 and comparable sales to decline by mid-single digits Analysts surveyed by Capital IQ project EPS of $1.84 for the quarter on revenue of $26.12 billion.
$Tesla(TSLA.US$ shares fell by 3.16%, closing at $225.60. Its options trading volume is 2.35 million. Call contracts account for 48.5% of the whole trading volume. The most traded calls are contracts of $235 strike price that expire on August 18th. The total volume reaches 124,389 with an open interest of 13,295. The most traded puts are contracts of a $225 strike price that expires on August 18th; the volume is 118,385 contracts with an open interest of 20,924.
Tesla on Tuesday introduced cheaper, shorter-range versions of its Model S sedan and Model X SUV. Tesla on Sunday cut the price of two versions of its Model Y SUV by about $1,900 each in China. The EV maker's price wars in China, the U.S. and other countries sparked price cuts from legacy and electric automakers alike.
Tesla reported second-quarter earnings in mid-July, keeping intact its 2023 goal of making about 1.8 million vehicles, but warned investors to expect "slightly" lower production in the current quarter due to factory upgrades.
$NVIDIA(NVDA.US$ shares fell by 1.03%, closing at $434.86. Its options trading volume is 1.01 million. Call contracts account for 55.6% of the whole trading volume. The most traded calls are contracts of $450 strike price that expire on August 18th. The total volume reaches 51,660 with an open interest of 20,608. The most traded puts are contracts of a $440 strike price that expires on August 18th; the volume is 38,966 contracts with an open interest of 16,553.
Unusual Stock Options Activity
There were noteworthy activities in $Tesla(TSLA.US$ where multiple options have high volume to open interest ranking. The highest volume over open interest ratio reaches 33.97x with 35,637 contracts.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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Source: Benzinga, WSJ
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