Options Market Statistics: C3.ai Soars Over 24% on Growing Demand for Its AI Software, Options Pop

Options Newsman joined discussion · Mar 1, 2024 08:23

News Highlights

$Advanced Micro Devices (AMD.US)$ shares rose by 9.06%, closing at $192.53. Its options trading volume is 1.92 million. Call contracts account for 62.2% of the total trading volume. The most traded calls are contracts of $190 strike price that expire on Mar 1st. The total volume reaches 130,940 with an open interest of 13,972. The most traded puts are contracts of a $185 strike price that expires on Mar 1st; the volume is 99,156 contracts with an open interest of 1,586.

Shares of Advanced Micro Devices are rising today, up over 9%. Meanwhile, $NVIDIA (NVDA.US)$'s stock was up nearly 2%.

Nvidia may be AMD's biggest competitor in the artificial intelligence (AI) race, but positive news for the company has a tendency to lift other top AI players. Nvidia's share price is moving higher today thanks to bullish coverage from an analyst and partnership news, and the gains are having spillover effects for AMD.

$Snowflake (SNOW.US)$ shares fell by 18.14%, closing at $188.28. Its options trading volume is 0.57 million. Call contracts account for 60.7% of the total trading volume. The most traded calls are contracts of $200 strike price that expire on Mar 1st. The total volume reaches 24,232 with an open interest of 649. The most traded puts are contracts of a $180 strike price that expires on Mar 1st; the volume is 22,520 contracts with an open interest of 6,981.

Shares in Snowflake plunged after the software maker reported fourth quarter earnings that beat Wall Street targets but revenue guidance for SNOW stock for fiscal 2025 came in well below expectations. The company announced its chief executive, Frank Slootman, will retire.

$C3.ai (AI.US)$ shares rose by 24.52%, closing at $36.97. Its options trading volume is 0.48 million. Call contracts account for 71.7% of the total trading volume. The most traded calls are contracts of $40 strike price that expire on Mar 1st. The total volume reaches 32,102 with an open interest of 6,252. The most traded puts are contracts of a $37 strike price that expires on Mar 1st; the volume is 9,055 contracts with an open interest of 16.

C3. ai shares soared over 24% Thursday after the partner of $Alphabet-A (GOOGL.US)$'s Google and $Amazon (AMZN.US)$ posted better-than-expected results and guidance as demand for its artificial intelligence (AI) software surged.

The company posted a third quarter fiscal 2024 loss of $0.13 per share, narrower than anticipated. Revenue was up 17.6% from a year ago to $78.40 million, also ahead of forecasts.

CEO Thomas Siebel said customer engagement jumped 80%, and that the company's "significant first mover advantage in Enterprise AI is generating tailwinds as market interest in adopting AI accelerates."

Options Market Statistics: C3.ai Soars Over 24% on Growing Demand for Its AI Software, Options Pop

Unusual Stock Options Activity

There was a noteworthy activity in $Advanced Micro Devices (AMD.US)$, where multiple puts have topped volume to open interest ranking. The highest volume over open interest ratio reaches 116.9x, with option volume of nearly 46,181 and open interest of 395.

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Daily Active Index & Sector ETF Options

Source: Barchart, Unusual Whales, Barron's, The Motley Fool

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