Options Market Statistics: Intel Surges Following News of Discussions with Investment Bankers, Options Pop

Options Newsman wrote a column · Aug 31, 2024 09:25

News Highlights

$Intel (INTC.US)$ shares rose 9.49% Friday to close at $22.04. Its options trading volume was 1.18 million. Call contracts account for 71.8% of the total trading volume. The $22 calls expiring Aug. 30 were traded most actively.

Intel experienced a notable surge, climbing 9.9% to reach an intraday high of $22.12, following a report by Bloomberg News. The report, which cited "unnamed sources," mentioned that Intel is actively collaborating with financial giants Morgan Stanley and Goldman Sachs. According to these anonymous sources, Intel is exploring a variety of strategic alternatives. These include potential mergers and acquisitions (M&A), a division of its product-design and manufacturing operations, or possibly abandoning certain factory projects.

Bloomberg News reported that Intel's management anticipates discussing these options with the company's board in the coming month. This strategic reassessment follows a significant decline in Intel's share value, hitting its lowest point since 2013 after the company reported disappointing earnings earlier in the month.

Options Market Statistics: Intel Surges Following News of Discussions with Investment Bankers, Options Pop

$GameStop (GME.US)$ shares rose 8.88% Friday to close at $23.42. Its options trading volume was 0.37 million. Call contracts account for 85.2% of the total trading volume. The $23 calls expiring Aug. 30 were traded most actively.

GameStop is strategically transforming several of its retail presence into hubs for retro gaming, catering to enthusiasts of vintage consoles and games. This initiative seeks to tap into the surging interest in the nostalgia-infused gaming sector. Earlier this week, GameStop declared the cessation of its "$250 million credit facility." The company is set to disclose its earnings for the second quarter on September 10, 2024, following the closure of the market.

$Palantir (PLTR.US)$ shares rose 1.55% Friday to close at $31.48. Its options trading volume was 0.31 million. Call contracts account for 62.9% of the total trading volume. The $31.5 calls expiring Aug. 30 were traded most actively.

Palantir, a prominent developer of AI software platforms, revealed on Thursday that it has been designated a Leader in artificial intelligence and machine learning (AI/ML) software platforms by the esteemed research and advisory firm, Forrester. Selected to partake in “The Forrester Wave: AI/ML Platforms, Q3 2024” report, Palantir achieved the top rank for Current Offering, affirming its status as a leader in this sector.

Unusual Stock Options Activity

There was a noteworthy activity in $Pfizer (PFE.US)$, where $27 PUTs have topped volume to open interest ranking. The highest volume over open interest ratio reaches 132.3x with 18,523 contracts.

Daily Active Index & Sector ETF Options

Source: Barchart, Unusual Whales, The Guardian, Bloomberg

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Implied Volatility Rank: Volatility Analysis: IV, HV, IV Rank, IV Percentile

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