Options Market Statistics: Tesla Slashes Model Y Prices in Europe After China Price Cuts, Options Pop
News Highlights
$Tesla (TSLA.US)$shares fell by 1.98%, closing at $215.55. Its options trading volume is 2.46 million. Call contracts account for 40.4% of the whole trading volume. The most traded calls are contracts of $215 strike price that expire on January 19th. The total volume reaches 120,586 with an open interest of 6,010. The most traded puts are contracts of a $210 strike price that expires on January 19th; the volume is 126,234 contracts with an open interest of 43,270.
Tesla has slashed prices of its Model Y cars across Europe including in Germany, a week after the company cut prices in China in the face of uncertain electric-vehicle demand.
The cuts, as well as lowered price targets from brokerages UBS and Wells Fargo, sent Tesla's shares down nearly 3%, adding to what has been a poor start for the stock in 2024.
Tesla reduced prices in Germany for its Model Y Long Range and Model Y Performance by 5,000 euros to 49,990 euros ($54,340) and 55,990 euros respectively, representing a discount of 9% and 8.1% compared to their previous prices.
It also cut the price of Model Y rear-wheel drive models by 4.2%, according to data on Tesla's website.
In France, the company reduced its Model Y prices by as much as 6.7%. Prices were cut by up to 10.8% in Denmark.
$NVIDIA (NVDA.US)$shares fell by 0.58%, closing at $560.53. Its options trading volume is 1.17 million. Call contracts account for 62.3% of the whole trading volume. The most traded calls are contracts of $560 strike price that expire on January 19th. The total volume reaches 67,798 with an open interest of 13,310. The most traded puts are contracts of a $550 strike price that expires on January 19th; the volume is 47,585 contracts with an open interest of 12,781.
$Alibaba (BABA.US)$shares slided by 0.76%, closing at $68.93. Its options trading volume is 0.73 million. Call contracts account for 25.1% of the whole trading volume. The most traded puts are contracts of a $85 strike price that expires on January 19th; the volume is 109,135 contracts with an open interest of 7,587.
Alibaba ended the recent trading session at $68.93, demonstrating a -0.76% swing from the preceding day's closing price.
Prior to today's trading, shares of the online retailer had lost 7.87% over the past month. This has lagged the Retail-Wholesale sector's gain of 1.08% and the S&P 500's gain of 1.2% in that time.
Investors will be eagerly watching for the performance of Alibaba in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.73, marking a 2.15% fall compared to the same quarter of the previous year. At the same time, analysts' most recent consensus estimate is projecting a revenue of $37.68 billion, reflecting a 4.89% rise from the equivalent quarter last year.
Unusual Stock Options Activity
Some notable put activity is being seen in $GameStop (GME.US)$ , which is primarily being driven by activity on the 26-Jan-2024 put. Volume on this contract is 14,430 versus open interest of 101.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, CNBC
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