Options Market Statistics: Starbucks Stock Soars, Chipotle Sinks Amid CEO Transition; Options Pop

Options Newsman joined discussion · Aug 14, 2024 09:12

News Highlights

$NVIDIA (NVDA.US)$ stock rose 6.53%. Its options trading volume was 3.84 million. Call contracts account for 57.5% of the total trading volume.The $110 calls expiring August 16 were traded most actively.

Nvidia shares surged over 6% on Tuesday after Goldman Sachs strategist Scott Rubner labeled it the "most important stock" of the year. Rubner anticipates Nvidia's earnings later in the month and the Federal Reserve's Jackson Hole Economic Symposium could spark a market rally. He forecasts a potential Labor Day rally but cautions about a "tricky" second half of September. Nvidia's stock closed 6.5% higher at $116.14, recovering recent losses and more than doubling in value since the start of the year.

Read Here: Nvidia Stock Continuously Rebounds as Analysts Call It a 'Top Pick' — But Is It a Buy Now?

$Starbucks (SBUX.US)$ stock surged 24.50%. Its options trading volume was 0.85 million. Call contracts account for 44.6% of the total trading volume.The $75 calls expiring December 18 were traded most actively.

Shares of Starbucks surged over 24% after CEO Laxman Narasimhan announced his immediate resignation. Brian Niccol, CEO of Chipotle, will take over on September 9, 2024. Niccol's tenure at Chipotle saw revenue nearly double, profits increase sevenfold, and stock price rise by nearly 800%. He has also held leadership roles at Taco Bell and Pizza Hut. Investors reacted positively to the leadership change, anticipating improved performance after recent earnings underperformance.

Options Market Statistics: Starbucks Stock Soars, Chipotle Sinks Amid CEO Transition; Options Pop

$Chipotle Mexican Grill (CMG.US)$ stock dropped 7.50%. Its options trading volume was 0.51 million. Call contracts account for 61.4% of the total trading volume.The $56 calls expiring August 16 were traded most actively.

Unusual Stock Options Activity

There was a noteworthy activity in $Starbucks (SBUX.US)$, where multiple puts have topped volume to open interest ranking. The highest volume over open interest ratio reaches 374.7x with 98,924 contracts.

Daily Active Index & Sector ETF Options

Source: Barchart, Unusual Whales, The Guardian, Bloomberg

Option Volume: [Options Notes]Measuring liquidity: two key indicators to check

Open Interest: Open Interest Analysis: How to potentially grasp the market's capital flow?

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

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