Options Market Statistics: Tesla Stock Falls as Fed's Hawkish Pause Puts Big Dent in Big Tech, Options Pop
News Highlights
$Tesla(TSLA.US$ shares fell by 1.47%, closing at $262.59. Its options trading volume is 2.21 million. Call contracts account for 59.4% of the whole trading volume. The most traded calls are contracts of $270 strike price that expire on September 22nd. The total volume reaches 91,775 with an open interest of 9,484. The most traded puts are contracts of a $265 strike price that expires on September 22nd; the volume is 81,155 contracts with an open interest of 6,989.
Ark Invest founder Cathy Wood, who is a Tesla bull, in a recent media appearance, talked about the potential the autonomous driving technology has for the electric vehicle pioneer.
Ark's Bull-Bear Cases: Delving into the bear-case 2027 price target of $1,400 for Tesla, Wood said a third of the valuation is associated with EVs and scaling them and two-thirds is around autonomous and autonomous taxi platforms, Wood said in an interview with CNBC.
The fund manager said many countries are interested in having a Tesla plant and pointed to Turkey to make her case. So the EV story is all working out as expected, she said.
$Goodyear Tire & Rubber(GT.US$ shares rose by 4.27%, closing at $12.94. Its options trading volume is 0.36 million. Call contracts account for 7.8% of the whole trading volume. The most traded calls are contracts of $15 strike price that expire on January 17th 2025. The total volume reaches 360 with an open interest of 2,591. The most traded puts are contracts of a $11.5 strike price that expires on September 22nd; the volume is 170 contracts with an open interest of 109.
$Alphabet-A(GOOGL.US$ shares fell by 3.12%, closing at $133.74. Its options trading volume is 0.32 million. Call contracts account for 58.3% of the whole trading volume. The most traded calls are contracts of $140 strike price that expire on September 22nd. The total volume reaches 28,212 with an open interest of 6,446. The most traded puts are contracts of a $138 strike price that expires on September 22nd; the volume is 8,698 contracts with an open interest of 1,659.
In a blog post Tuesday attributed to Yury Pinsky, director of product management for Bard, the Alphabet unit said that starting Tuesday a new service called Bard Extensions "can find and show you relevant information from the Google tools you use every day -- like Gmail, Docs, Drive, Maps, YouTube, and Google Flights and Hotels -- even when the information you need is across multiple apps and services."
The company noted that if you connect Bard to your personal data, the information isn't seen by human reviewers, used by Bard for advertising targeting, or included in Bard's model.
Unusual Stock Options Activity
Some notable put activity is being seen in $SoFi Technologies(SOFI.US$, which is primarily being driven by activity on the October 20th 7.50 put. Volume on this contract is 27,130 versus open interest of 161, so it's likely that nearly all of the volume represents fresh positioning.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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Source: Benzinga, WSJ
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Patrick Tremblay : $Tesla (TSLA.US)$