Unveiling Surging Option Volumes
Today’s trading session sent shockwaves through the market as option volumes surged for SoFi Technologies Inc (SOFI), Adobe Inc (ADBE), and Advanced Micro Devices Inc (AMD). In a tumultuous market, these tech giants stood out for their notable options activities, painting a vivid picture of investor sentiment.
Among the underlying components of the Russell 3000 index, SoFi Technologies Inc (SOFI) took center stage, with a total of 368,706 contracts traded thus far. This colossal figure translates to approximately 36.9 million underlying shares, a staggering 95.6% of SOFI’s average daily trading volume over the past month.
Adobe Inc (ADBE) wasn’t far behind, with options trading volumes reaching 28,633 contracts. This nuance represents about 2.9 million underlying shares, a substantial 95.1% of ADBE’s average daily trading volume over the last month.
Advanced Micro Devices Inc (AMD) also had tongues wagging with a whopping 516,171 contracts traded, symbolizing approximately 51.6 million underlying shares or 89.5% of AMD’s average daily trading volume over the past month. The market soared with 63,345 contracts trading for the $160 strike call option expiring on April 26, 2024, representing 6.3 million underlying shares of AMD.
Analyzing Trading Trends
As investors juggled the complexities of market movements, high volumes were witnessed across the board. Notably, the $8 strike call option expiring on May 03, 2024, stole the spotlight for SOFI, while the $480 strike call option expiring on April 26, 2024, created waves for ADBE. Meanwhile, the $160 strike call option expiring on April 26, 2024, captivated traders in the case of AMD.
Insights Into Historical Performance
Tracing back through the annals of time, historical trading patterns offer a lens into the present frenzy. The charts reflecting the trailing twelve-month trading history of SOFI, ADBE, and AMD, with the highlighted strike prices, reveal a vivid tapestry of volatility and opportunity.