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US equity futures are mixed this morning as investors stop to digest yesterday's strong gains
On the road to the future, future on the Dow Jones Industrial Average are down 0.15% and S & P 500 futures are higher by 0.14%. Nasdaq-100 futures contracts added 0.28%.
In the options wells, the volume of shares retreated yesterday, last week's pessimism giving way to aggressive buying. Overall volume remained stable around average levels. Specifically, about 18.5 million calls and 15.1 million people changed hands during the session.
The return of the appeal has reduced the share ratio / number of shares to a single session of the CBOE to 0.57, a two-week low. Meanwhile, the 10-day moving average remained stable at 0.65.
Here are three popular values that landed at the top of Monday's options business rankings. Massive turbulence hit Boeing (NYSE:BA) after a tragic accident over the weekend with one of his aircraft. Apple (NASDAQ:AAPL) experienced a breakout, ending its consolidation pattern by several weeks. Nvidia (NASDAQ:NVDA) rebounded 6% after announcing the $ 6.9 billion acquisition Mellanox (NASDAQ:MLNX).
Let's take a closer look:
Boeing (BA)
Boeing's shares have seen one of the most volatile trading sessions in their history since the fatal crash of its 737 MAX jet.
In a chaotic session, BA shares opened down only 12% to see buyers emerge immediately and push stocks higher throughout the day. At closing, Boeing's losses were reduced to just over 5%.
The strong upside has been about as good as the shareholders might have hoped. Several support zones were tested outside and the rally proved that the bulls are in control of the aerospace heavy weight.
On the options trading front, calls were slightly higher than those for purchases, despite the difficulties of the morning. The total number of contracts traded reached 386,579, making it the third most traded option on the market. Calls accounted for 52% of the day's total, leading BA to a put / call ratio of 0.93.
The rise in uncertainty ignited implied volatility, bringing it to its highest level in two months, to 34%. This places it at the 47th percentile of its one year range. Premiums now include daily movements of $ 8.58, or 2.1%.
Apple (AAPL)
Apple finally awoke from his sleep, marking a sturdy escape. High volume accompanied the jump, suggesting that institutions were moving and net buyers of titan technology. This gives legitimacy to the resistance gap and increases the likelihood that the next $ 185 resistance zone will remain.
The technology sector is one of the most powerful in the market and Apple is once again playing a leading role.
The rise in options trading made AAPL the second most active stock of the day. Traders were thirsty for calls, bringing the total volume of options to 556,717. About 69% of the amount comes from call options.
Monday's price hike did not contribute much to the rise in implied volatility. Complacency ruled the day by keeping the reading at 19%. This places it at the 15th percentile of its one year range. Premiums remain cheap, with daily movements of $ 2.16 or 1.2%.
Nvidia (NVDA)
The merger Monday at the height of his counterpart yesterday with the news that Nvidia was buying the Israeli company Mellanox for $ 6.9 billion. This is the largest ever acquisition by the graphics chip company and could boost the growth of the recently battered company.
Investors expressed optimism about the deal by increasing NVDA shares by 7.6% that day. It should be noted that this is somewhat atypical. Usually, the acquiring company falls initially when the news arrives. With the push, NVDA is fast approaching critical resistance at $ 165. This is the level to watch, because if it broke, the basic pattern of the stock at four months would finally be completed.
On the options trading front, calls dominated the session, accounting for 61% of the total. The number of contracts increased to 267,245 at closing and the put / call ratio ended at 0.65.
Implied volatility dropped to 37%, placing it at the 28th percentile of its one – year range. Premiums include daily movements of $ 3.79, or 2.4%.
At the time of writing these lines, Tyler Craig was holding bullish positions in BA. Check out his recently released Bearish Market Survival Guide learn how to defend your portfolio against market volatility.
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