Options Market Statistics: Amazon Shares Soar on the Back of Stronger-than-Expected 3Q Earnings, Options Pop
News Highlights
$Tesla(TSLA.US$ shares rose by 0.75%, closing at $207.30. Its options trading volume is 2.33 million. Call contracts account for 47.2% of the whole trading volume.
Tesla has raised the price of its Model Y Performance Edition by 14,000 yuan (about $1,913) in China. The company raised the prices on the higher-end variant of the SUV by 4% from $349,900 yuan. The vehicle is now priced at 363,900 yuan.
However, despite the price hike, the vehicle continues to be cheaper than Oct. 2022 when Tesla first started cutting prices in China. The prices of all other variants of the SUV, as well as other Tesla models, remain unchanged on the website.
$Amazon(AMZN.US$ shares soared by 6.83%, closing at $127.74. Its options trading volume is 2.32 million. Call contracts account for 62.2% of the whole trading volume.
Amazon shares surge Friday after release of third-quarter results and outlook. Amazon implemented cost-cutting measures in 2023, involving laying off thousands of employees. Despite this, the e-commerce giant experienced a 13% increase in revenue compared to the same period last year. The company anticipates fourth-quarter sales to range between $160 billion and $167 billion.
$Ford Motor(F.US$ shares fell by 12.25%, closing at $9.96. Its options trading volume is 0.63 million. Call contracts account for 55.8% of the whole trading volume.
Ford Motor Co (F.N) shares closed sharply lower on Friday following the automaker's report of a larger loss from its electric-vehicle (EV) business due to competitive pressures from Tesla. The company also withdrew its 2023 forecast, citing uncertainty regarding the ratification of its new labor agreement with the United Auto Workers union, which is expected to significantly increase labor-related costs.
Ford cautioned about ongoing challenges in its EV business and announced that it would reduce production of its Mustang Mach-E while cutting around $12 billion in investments in the segment. These moves include delaying the construction of its second battery plant in Kentucky.
"We believe that the rise in battery raw material costs has negatively impacted the outlook for BEV (battery electric vehicles) profitability, and consequently, Ford's profitability," Wells Fargo analysts wrote in a note.
Unusual Stock Options Activity
Some notable call activity is being seen in $Amazon(AMZN.US$, which is primarily being driven by activity on the February 16th, 2024 115 call. Volume on this contract is 150,619 versus open interest of 1,094.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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Source: Benzinga, WSJ
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