Outlook falls short of expectations! Is Intel still worth holding onto?
Index Options
On January 23 Eastern Time, trading volume in the US stock index options market declined, with a total of 5.14 million contracts traded. The put/call ratio increased to 1.10.

Single Stock Options
$Microsoft (MSFT.US)$Shares closed up 3.28%, with 977,900 options contracts traded, and the put/call volume ratio rose to 0.53. Microsoft is set to release its earnings report on January 29. Morgan Stanley expects Azure's cloud business to see a 40% year-over-year revenue increase in Q2, surpassing expectations. Additionally, Microsoft has partnered with Bristol-Myers Squibb to develop an AI-based lung cancer diagnostic system, driving the stock price up by 3.28%.

Looking at this Friday's expiring call options, several contracts have seen gains of more than 200%.

Observing unusual large option trades, major investors are showing optimism.

$Intel (INTC.US)$Shares closed down 17.03%, with 2.5384 million options contracts traded, and the put/call volume ratio dropped to 0.67. Intel's share price plummeted 17% after releasing its Q4 earnings report. The company's guidance for Q1 fell below expectations, and it warned of supply shortages. While data center demand remains strong, limited capacity continues to drag overall performance, with losses in the foundry business persisting.

Looking at this Friday's expiring put options, the highest gains exceeded 400%.

Observing unusual large option trades, major investors are showing optimism.

Options Volume Leaderboard
Among the top 10 stocks by options trading volume,$Micron Technology (MU.US)$The put/call volume ratio reached a high of 0.79. William Blair analysts initiated coverage of Micron Technology with an outperform rating, forecasting that AI-driven memory supercycle will push the company's adjusted earnings per share growth over 275% in the next two years, setting a price target of $450.

Top 10 Most Actively Traded US Stock Options

Top 10 US Stock ETF Options by Trading Volume

Implied volatility leaderboard (underlying market cap > $10 billion and option volume > 100,000)
$Critical Metals (CRML.US)$Implied volatility hit a high of 158.80%, increasing by 4.47% from the previous trading day. Critical Metals signed a $1.5 billion rare earth processing plant agreement with a Saudi company and secured four offtake agreements covering 100% of Tanbreez project's capacity, sending shares surging over 20%.

$Cipher Digital (CIFR.US)$Implied volatility grew the most, reaching 114.90%, up by 6.21% from the previous trading day. Cipher Mining garnered attention due to its environmental compliance advantages for xAI data centers. Institutional holdings increased by over 100 firms, and the company signed a $5.5 billion, 15-year agreement with Amazon, driven by rising demand for AI data centers, boosting the stock price.

Top 10 most volatile US stock options (underlying market cap > $10 billion and option trading volume > 100,000 contracts)

Top 10 US Stock ETFs by Implied Volatility (Criteria: Market Cap > $100 billion)

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Risk Warning
An option is a contract that gives the holder the right, but not the obligation, to buy or sell an asset at a fixed price at any time on or before a specific date. The price of an option is influenced by several factors including the current price of the underlying asset, the strike price, time to expiration, and implied volatility.
Implied volatility reflects the market’s expectation of the future volatility of an option over a certain period. It is data derived inversely from the BS option pricing model and is generally considered an indicator of market sentiment. When investors anticipate higher volatility, they may be willing to pay more for options to hedge risks, resulting in higher implied volatility.
Traders and investors use implied volatility to assessoption pricesthe attractiveness, identify potential mispricing, and manage risk exposure.Disclaimer
This content does not constitute any offer, solicitation, recommendation, opinion, or guarantee for any securities, financial products, or tools. The risk of loss in trading options can be substantial. In some cases, losses may exceed the initial margin deposited. Even if you set contingent orders such as 'stop-loss' or 'limit' orders, these may not prevent losses. Market conditions may prevent these orders from being executed. You might be required to deposit additional margin within a short period. If you fail to provide the required amount within the specified time, your open positions may be liquidated. However, you will still be responsible for any shortfall in your account. Therefore, before trading, you should study and understand options and carefully consider whether such trading is suitable for you based on your financial situation and investment objectives. If you trade options, you should be familiar with the procedures for exercising options and the rights and obligations upon exercise and expiration. Option trading involves extremely high risks and is not suitable for all investors. Investors should read carefully before engaging in any options trading strategy.Characteristics and Risks of Standardized Options。
This content does not constitute any offer, solicitation, recommendation, opinion, or guarantee for any securities, financial products, or tools. The risk of loss in trading options can be substantial. In some cases, losses may exceed the initial margin deposited. Even if you set contingent orders such as 'stop-loss' or 'limit' orders, these may not prevent losses. Market conditions may prevent these orders from being executed. You might be required to deposit additional margin within a short period. If you fail to provide the required amount within the specified time, your open positions may be liquidated. However, you will still be responsible for any shortfall in your account. Therefore, before trading, you should study and understand options and carefully consider whether such trading is suitable for you based on your financial situation and investment objectives. If you trade options, you should be familiar with the procedures for exercising options and the rights and obligations upon exercise and expiration. Option trading involves extremely high risks and is not suitable for all investors. Investors should read carefully before engaging in any options trading strategy.Characteristics and Risks of Standardized Options。
Editor/Lee
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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