Options Market Statistics: Tesla Shares Drop on China Price Cuts and German Plant Shutdown, Options Pop
$Tesla(TSLA.US)$ shares fell by 3.67%, closing at $218.89. Its options trading volume is 3.23 million. Call contracts account for 50.8% of the whole trading volume.
Tesla Inc. shares dropped after the carmaker cut prices again in China and said its lone European factory will be disrupted by attacks in the Red Sea.
Tesla reduced starting prices of the Model 3 sedan by 5.9% to 245,900 yuan ($34,300) and marked down the Model Y sport utility vehicle by 2.8% to 258,900 yuan, according to its website.
Hours earlier, Tesla told Reuters it will suspend most production at its Model Y plant near Berlin from Jan. 29 to Feb. 11, as suppliers shift transport routes in response to attacks on vessels in the Red Sea.
$Meta Platforms (META.US)$ shares rose by 1.30%, closing at $374.49. Its options trading volume is 0.61 million. Call contracts account for 62% of the whole trading volume.
$Bank of America (BAC.US)$ shares fell by 1.06%, closing at $32.8. Its options trading volume is 0.51 million. Call contracts account for 57.8% of the whole trading volume.
The bank reported net income of $3.1 billion for the fourth quarter, down more than 50% from a year ago. Net interest income decreased 5% to $13.9 billion due to lower deposit balances and higher deposit costs. Still, it beat earnings expectations.
Unusual Stock Options Activity
Some notable call activity is being seen in $Tesla (TSLA.US)$, which is primarily being driven by activity on the 12-Jan-2024 put. Volume on this contract is 72,484 versus open interest of 231.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, CNBC
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