Options Market Statistics: Palantir Stock Soars on Q2 Revenue Beat and Strong Guidance
News Highlights
$NVIDIA (NVDA.US)$ stock dropped 6.36%. Its options trading volume was 4.68 million. Call contracts account for 56.3% of the total trading volume. The $120 calls expiring August 9 were traded most actively.
Nvidia shares plummeted over 6% on Monday after reports of a delay in its Blackwell AI chips due to design flaws. The delay, expected to last at least three months, will impact major clients such as $Amazon (AMZN.US)$, $Alphabet-A (GOOGL.US)$, $Meta Platforms (META.US)$, $Microsoft (MSFT.US)$, OpenAI, $Tesla (TSLA.US)$, and others. This setback arises amid a global market sell-off driven by concerns about the U.S. economy. Citi analysts, who removed Nvidia from their "upside catalyst watch," noted that the delay might boost demand for Nvidia's older AI chips and competitors' products like $Advanced Micro Devices (AMD.US)$'s. Despite the drop, Nvidia's stock has still doubled in value since the beginning of the year.
$Palantir (PLTR.US)$ stock dropped 2.63%. Its options trading volume was 0.61 million. Call contracts account for 58.9% of the total trading volume. The $40 calls expiring Nov. 15 were traded most actively.
Palantir Technologies reported second-quarter earnings and revenue that exceeded Wall Street estimates, propelling its stock up 12% in extended trading, despite a 2.6% drop during regular trading. For the quarter ended June 30, GAAP earnings were 9 cents per share, up 80% year-over-year, and revenue rose 27% to $678 million, surpassing analysts' expectations of 8 cents per share on $653 million in revenue. The company saw significant growth in both government and commercial sectors, with U.S. commercial revenue jumping 55% to $159 million. CEO Alex Karp emphasized the strong demand for Palantir's AI software. For the September quarter, Palantir projects revenue between $697 million and $701 million, above analysts' forecast of $681 million, and raised its 2024 revenue guidance to approximately $2.742 billion to $2.750 billion.
$SoFi Technologies (SOFI.US)$ stock dropped 1.65%. Its options trading volume was 0.50 million. Call contracts account for 43.8% of the total trading volume. The $7.5 calls expiring August 9 were traded most actively.
Unusual Stock Options Activity
There was a noteworthy activity in $Delta Air Lines (DAL.US)$, where multiple puts have topped volume to open interest ranking. The highest volume over open interest ratio reaches 210.8x with 105,210 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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