Option Movers | Oracle's $155 Call Rockets about 400%! Hims' $19 Put Surges 530%

The S&P 500 and the Nasdaq rose solidly after a shaky start on Monday (Feb 9), as technology stocks found their footing following last week's AI-sparked selloff, while investors waited for key economic data that could shed light on the Federal Reserve's interest-rate path.

Regarding the options market, a total volume of 53,955,254 contracts was traded on Monday, of which 59% were call options.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $AMZN(AMZN)$, $AAPL(AAPL)$, $MSFT(MSFT)$, $PLTR(PLTR)$, $AMD(AMD)$, $META(META)$, $ORCL(ORCL)$, $MSTR(MSTR)$

Source: Tiger Trade App

$Oracle(ORCL)$'s stock surged 9.6% to $156.59 on Monday. D.A. Davidson analyst Gil Luria upgraded Oracle to buy, maintaining a $180 price target, citing OpenAI’s improved business model and potential for significant capital raises.

Shares of Oracle have been stuck in a downward spiral for months, but the tide may finally turn for the software and cloud giant. Oracle's stock has plunged roughly 60% from its September peak - currently trading at $143 - primarily due to concerns about the company's high-stakes relationship with OpenAI, and, more recently, a broader selloff in the software sector. "We believe the market has overshot to the downside," D.A. Davidson analyst Gil Luria wrote in a Monday note.

A total number of 482.93K Oracle option contracts was traded on Monday, of which 60% were call options. Call options related to Oracle showed huge gains on Monday. For example, the $155 strike call options expiring this week soared 392.24%.

Source: Tiger Trade App

Unusual Options Activity

Source: Market Chameleon

Telehealth firm $Hims & Hers(HIMS)$ reversed its launch of a $49 compounded weight-loss pill over the weekend, following legal threats from Novo and the U.S. Food and Drug Administration. Hims shares tumbled 16% to $19.33 on Monday.

Hims had introduced the pill on Thursday last week, based on semaglutide—a key ingredient in Novo's blockbuster drugs Wegovy and Ozempic—sparking pushback from the Danish drugmaker and regulatory authorities. On Saturday, Hims said it would stop offering the treatment after holding "constructive conversations with stakeholders."

A total number of 458,719 Hims option contracts was traded on Monday, 3.1 times higher than the 90-day average trading volume. Put options related to Hims & Hers showed huge gains on Monday. For example, the $19 strike put options expiring this week soared 530.77%.

Source: Tiger Trade App

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