Option Movers | Tesla's $460 Call Drops 44%; iShares Silver Trust's $69 Call Jumps 58%
Market Overview
The S&P 500 and the Nasdaq closed fractionally lower in choppy trading on Tuesday (Dec. 30), as gains in communication services stocks were offset by declines in technology and financial stocks, with financials also weighing on the Dow.
Regarding the options market, a total volume of 37,949,751 contracts was traded.
Top 10 Option Volumes
Top 10: $TSLA(TSLA)$, $NVDA(NVDA)$, $NLY(NLY)$, $VIX(VIX)$, $INTC(INTC)$, $AGNC(AGNC)$, $NFLX(NFLX)$, $PLTR(PLTR)$, $MSTR(MSTR)$, $META(META)$,
Source: Tiger Trade App
$Tesla(TSLA)$ shares dropped 1.1% on Tuesday. Tesla took the unusual step of publishing a series of sales estimates indicating the outlook for its vehicle deliveries may be lower than many investors were expecting. The carmaker posted estimates to its website showing analysts on average expect the company to deliver 422,850 cars in the fourth quarter, down 15% from a year earlier. That compares with a Bloomberg-compiled average of 440,907 vehicles, an 11% drop.
There are 1.75 million Tesla option contracts traded on Tuesday, down 2% from the previous trading day. Call options account for 59% of overall option trades. Particularly high volume was seen for the $460 strike call option expiring January 2, 2026, with 84,393 contracts trading. TSLA 20260102 460.0 CALL
Unusual Options Activity
Source: Market Chameleon
$iShares Silver Trust(SLV)$ rallied 4.5% on Tuesday as silver rebounded.
There are 2 million SLV option contracts traded on Tuesday, down 24% from the previous trading day. Call options account for 65% of overall option trades. Particularly high volume was seen for the $69 strike call option expiring January 16, 2026, with 54,707 contracts trading. SLV 20260116 69.0 CALL
TOP 10 S&P 500 Bullish & Bearish
This report shows stocks with the highest volume of bullish and bearish activity by option delta volume, which converts option volume to an equivalent stock volume (bought or sold).
If we take the total positive option delta volume and subtract the total negative option delta volume, we will get the net imbalance. If the net imbalance is positive, there is more bullish pressure. If the net is negative, there is more bearish pressure.
Based on option delta volume, traders bought a net equivalent of 1,048,985 shares of $Home Depot(HD)$ stock. The largest bullish delta came from selling puts. The largest delta volume came from the 16-Jan-26 380 Put, with traders getting long 909,500 deltas on the single option contract.
Top 10 bullish stocks: $HD(HD)$, $INTC(INTC)$, $GOOGL(GOOGL)$, $OXY(OXY)$, $AAPL(AAPL)$, $AMZN(AMZN)$, $AVGO(AVGO)$, $KVUE(KVUE)$, $DIS(DIS)$, $NFLX(NFLX)$
Top 10 bearish stocks: $PLTR(PLTR)$, $MSFT(MSFT)$, $SBUX(SBUX)$, $NVDA(NVDA)$, $TSLA(TSLA)$, $LRCX(LRCX)$, $F(F)$, $META(META)$, $PFE(PFE)$; $USB(USB)$
Source: Market Chameleon
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