Options Market Statistics: GameStop Stock's Rise Snapped a Two-Day Losing Streak; Options Pop
News Highlights
$NVIDIA (NVDA.US)$ shares dropped 1.59% Friday to close at $116, with option volume of 3.97 million, and calls accounted for 61.1% of the volume. The $120 calls expiring September 20 were traded most actively.
$GameStop (GME.US)$ shares surged 11.99% Friday to close at $21.85, with option volume of 0.62 million, and calls accounted for 82.7% of the volume. The $20 calls expiring January 17, 2025 were traded most actively.
Shares of $GameStop (GME.US)$ surged 11.99% to $21.85 Friday, on what proved to be an all-around mixed trading session for the stock market, with the $Dow Jones Industrial Average (.DJI.US)$ rising 0.09% to 42,063.36 and the $S&P 500 Index (.SPX.US)$ Index falling 0.19% to 5,702.55.
The stock's rise snapped a two-day losing streak.
GameStop closed $42.98 short of its 52-week high ($64.83), which the company achieved on May 14th.
$Rivian Automotive (RIVN.US)$ shares dropped 10.95% Friday to close at $11.71, with option volume of 0.31 million, and calls accounted for 62.5% of the volume. The $13.5 calls expiring September 20 were traded most actively.
$Rivian Automotive (RIVN.US)$ shares are trading lower by 10.95% to $11.17 during Friday'ssession. The stock is trading lower as major indexes pull back following recent strength.
The Federal Reserve's unexpected decision Wednesday tocut interest rates by 50 basis points at its September Federal open Market Committee(FOMC) meeting saw markets Rivian stock and broader markets gain sharply Thursday.
This policy shift has major implications for Rivian, a leading electric vehicle(EV) manufacturer, and its investors, who have reasons to be more optimistic about thecompany's financial outlook and growth potential.
Rivian, despite its potential and strong brand in the EV market, remains in itsgrowth phase and has yet to turn a profit. While the Fed's rate cut reduces borrowing costs.investors likely reassessed the company's significant cash burn and longer path toprofitability.
Even with lower interest rates, Rivian still faces steep capital expenditures related tomanufacturing expansion, supply chain improvements and R&D, particularly in thecompetitive EV space.
The Federal Reserve's Summary of Economic Projections revealed upward revisions tounemployment rates through 2025, signaling potential economic softness ahead.
Investors may fear that slower economic growth could dampen consumer demand forhigher-priced luxury electric vehicles like Rivian's RiT truck and Ris SUV, creatingheadwinds for revenue growth despite favorable financing conditions.
Unusual Stock Options Activity
There was a noteworthy activity in $Carrier Global (CARR.US)$, where $67.5 puts have topped volume to open interest ranking. The highest volume over open interest ratio reaches 148.3x with 17,504 contracts.
Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, The Guardian, Bloomberg
Call/Put Option: Trade Options: Quickstart Guide
Option Expiration: Trade Options: Quickstart Guide
Implied Volatility Rank: Volatility Analysis: IV, HV, IV Rank, IV Percentile
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