Options Market Statistics: PayPal Raises Outlook for 2023 Stock Buybacks to $5 Bln From $4 Bln, Options Pop
News Highlights
$Tesla (TSLA.US)$ shares rose by 5.34%, closing at $274.45. Its options trading volume is 2.40 million. Call contracts account for 62.4% of the whole trading volume. The most traded calls are contracts of $270 strike price that expire on June 23rd. The total volume reaches 127,449 with an open interest of 14,302. The most traded puts are contracts of a $260 strike price that expires on June 23rd; the volume is 70,692 contracts with an open interest of 8,232.
Electric-vehicle startup $Rivian Automotive (RIVN.US)$ on Tuesday said it has struck a deal to expand access of Tesla's fast-chargers to drivers of its vehicles, further cementing the EV leader's dominance in the U.S. for owners looking to power up.
Rivian's agreement follows similar deals Tesla reached in recent weeks with $Ford Motor (F.US)$ and $General Motors (GM.US)$. Both automakers also said they are incorporating the Tesla-style charging ports on future EVs starting in 2025, and their customers will get use of about 12,000 Superchargers.
$MARA Holdings (MARA.US)$ shares rose by17.43%, closing at $11.72. Its options trading volume is 1.43 million. Call contracts account for 77.4% of the whole trading volume. The most traded calls are contracts of $11 that expire on June 23rd. The total volume reaches 59,723 with an open interest of 7,992. The most traded puts are contracts of a $10 strike price that expires on June 23rd; the volume is 16,604 contracts with an open interest of 2,591.
Most major digital assets advanced on Tuesday after EDX Markets, a digital asset platform backed by financial giants Charles Schwab (SCHW), Fidelity Digital Assets and Citadel Securities, said it has officially launched trading in four digital assets.
Earlier on Tuesday, EDX Markets said its exchange allows trading of bitcoin, ethereum, litecoin (LTC-USD) and bitcoin cash (BCH-USD). The company said its digital asset marketplace is designed to allow "safe and compliant trading of digital assets through trusted intermediaries."
$PayPal (PYPL.US)$ shares rose by 3.70%, closing at $68.89. Its options trading volume is 0.43 million. Call contracts account for 80.5% of the whole trading volume. The most traded calls are contracts of $71 that expire on June 23rd. The total volume reaches 51,864 with an open interest of 2,663. The most traded puts are contracts of a $68 strike price that expires on June 23rd; the volume is 8,230 contracts with an open interest of 241.
PayPal announced a deal in which KKR-managed funds and accounts will purchase up to €40 billion of buy now, pay later loan receivables originated in Europe, which should allow for the repurchase of more stock this year by the payments company.
The digital payments company also said that the transaction is already reflected in its full-year earnings guidance, but when the deal closes it expects to allocate an additional $1 billion to share repurchases in 2023. PayPal now expects $5 billion in total share repurchases for the year.
Buy now, pay later has become a major asset to PayPal's checkout experience, driving engagement, payment volume growth, and repeat use while delivering high-value customers to our merchants," said Gabrielle Rabinovitch, acting chief financial officer of PayPal.
Our collaboration with KKR will allow us to accelerate our PayPal Pay Later originations alongside market demand in Europe while preserving free cash flow for other strategic initiatives," Rabinovitch added.
Unusual Stock Options Activity
Some notable call activity is being seen in $Tesla (TSLA.US)$ which is primarily being driven by activity on the June 23rd 267.5 put. Volume on this contract is 24,782 versus open interest of 426, so it's likely that nearly all of the volume represents fresh positioning. Shares of TSLA surge 5.34%.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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Source: Benzinga, WSJ
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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