Options Market Statistics: Tesla Hits 10-Day Winning Streak, Closes at 9-Month High, Options Pop

Tesla's stock surged 3.7% on Tuesday, achieving its longest winning streak in over a year and closing at its highest level since October. The stock has risen for 10 consecutive sessions, marking a 43.7% increase, its best 10-day performance since early February 2023. Tesla shares ranked third in performance within the S&P 500 and were the second most active. The stock closed at $262.33, the highest since October 11, 2023.

Despite a rough start to the year with significant losses, Tesla shares are now up 5.6% year-to-date, though this is the weakest performance among the "Magnificent Seven" tech stocks. The company's market capitalization has increased by about $250 billion during the winning streak, surpassing the market caps of all automakers except Toyota.

Intel's stock surged 8% this week, driven by positive analyst coverage and excitement about upcoming processors. Melius Research analyst Ben Reitzes highlighted Intel as a top AI play for the latter half of 2024, citing potential demand from Microsoft's new Recall AI feature, which could boost Intel's Lunar Lake CPU line. Additionally, Intel is set to launch a new GPU, the Battlemage, targeted at the gaming market and manufactured by Taiwan Semiconductor. Investors are optimistic about Intel's efforts to expand in both AI and gaming hardware sectors.