Options Market Statistics: Oracle Plunges 8% Following Q2 Revenue Miss, Options Pop

Options Newsman wrote a column · Dec 12, 2023 08:28

News Highlight

$Tesla (TSLA.US)$ shares fell by 1.68%, closing at $239.74. Its options trading volume is 1.40 million. Call contracts account for 54.2% of the whole trading volume.

$Advanced Micro Devices (AMD.US)$ shares rose by 4.26%, closing at $134.41. Its options trading volume is 1.00 million. Call contracts account for 70.9% of the whole trading volume.

$Oracle (ORCL.US)$ shares rose by 1.34%, closing at $115.13. Its options trading volume is 0.27 million. Call contracts account for 64.0% of the whole trading volume.

Shares of Oracle dropped over 8% after-hours today following the announcement of the company's Q2 results. Oracle reported a shortfall in its quarterly revenue, attributed to a challenging economic environment and heightened competition in the cloud computing sector, impacting the demand for its cloud services.

Options Market Statistics: Oracle Plunges 8% Following Q2 Revenue Miss, Options Pop

Oracle reported Q2 revenue of $12.9 billion (up 5% year-over-year), missing the consensus estimate of $13.05B. EPS came in at $1.34, compared to the consensus estimate of $1.33.

The company saw a 12% increase in its Cloud services and license support revenue, reaching $9.6B. However, cloud license and on-premise license revenues witnessed a downturn, decreasing 18% to $1.2B.

Demand for our Cloud Infrastructure and Generative AI services is increasing at an astronomical rate. As a measure of that demand, Oracle's total Remaining Performance Obligations (RPO) climbed to over $65 billion—exceeding annual revenue," said CEO Safra Catz.

Unusual Stock Options Activity

Some notable call activity is being seen in $Starbucks (SBUX.US)$, which is primarily being driven by activity on the Dec 15th 102.00 call. Volume on this contract is 30,330 versus open interest of 225.

Daily Active Index & Sector ETF Options

Source: Benzinga, Dow Jones, CNBC, Reuters

Disclaimer: Options trading entails significant risk and is not appropriate for all investors. Certain complex option strategy carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Option. This article is for information and illustrative purposes only, and is not a promotion of option trading or a recommendation of any of the specific option mentioned above.

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