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www.NoeticOptions.com Context - The S&P 500 gained 0.7% on Friday for its sixth straight record-setting advance. The Nasdaq Composite gained 0.6% to close at a record high, the Dow Jones Industrial Average gained 0.6%, and the Russell 2000 gained 0.9%.
All 11 S&P 500 sectors closed in positive territory, with energy (+1.9%) and materials (+1.1%) rising more than 1.0%. The information technology sector (+1.0%) was next in line, but it was perhaps the most influential gainer today given its top-weighted position in the S&P 500. The health care sector (+0.2%) lagged.
In the tech space, Workday (WDAY 243.88, +27.25, +12.6%), HP Inc. (HPQ 19.85, +1.15, +6.2%), Dell (DELL 66.21, +3.78, +6.1%), and VMware (VMW 146.09, +3.19, +2.2%) stood out as earnings winners. Semiconductor stocks also chipped in a solid outing, evident by the 2.0% increase in the Philadelphia Semiconductor Index.
There was no one specific catalyst today, but investors did receive another batch of better-than-expected economic data that helped broaden out the gains.
For July, personal income increased 0.4% m/m (consensus -0.2%) and personal spending rose 1.9% m/m (consensus +1.5%). The final University of Michigan Index of Consumer Sentiment for August ticked up to 74.1 (consensus 72.8) from the preliminary reading of 72.8.
The data provided some fuel for the reopening stocks like casinos, airlines, cruise lines, and hotels. Shares of MGM Resorts (MGM 23.86, +1.05, +4.6%) rose nearly 5%, even as the company announced plans to lay off 18,000 furloughed employees as a result of the pandemic.
U.S. Treasuries finished mixed. The 2-yr yield was flat at 0.15%, and the 10-yr yield declined two basis points to 0.73%. The U.S. Dollar Index fell 0.7% to 92.32. WTI crude futures declined 0.1% to $42.97/bbl. The CBOE Volatility Index declined 6.2% to 22.96 after touching 26.30 at its intraday high.
No news for Monday.
Index Summary - S&P 500 +0.65%; Nasdaq +0.5%;
DOW +0.58%; Russell 2000 +0.85%
VIX: 22.96 -1.51,( -6.17%)
Sector Summary - The three highest sectors for today were : Energy +1.79%; Materials +1.19%; Industrials +0.95%;
The three lowest sectors for today were : Health Care +0.22%; Communication Services +0.24%; Utilities +0.29%;
Commodities - Gold - 1970.6,( +1.97%); Crude - 43.04,( 0.0%)
Today’s Option Activity Fast Facts - CBOE Put/Call Ratio - 0.38
Highest Multiple Over Daily Average - FXC with 24 x the ADV of 1168. There were 88 calls and 27648 puts.
Ticker with Most Contracts - MSFT with 1382856 contracts traded today with an AVD of 443297. There were 1172637 calls and 210219 puts.
Largest Put / Call Ratio - FXC with a 314.18 P/C ratio. There were 27648 puts and 88 calls.
Largest Call / Put Ratio - STM with a 98.36 C/P ratio. There were 57247 calls and 582 puts.
\Stocks must be >$6, Highest Multiple must have >1k ADV, Largest ratios must have an option volume >10k*
Recap - AMD 85.55 +1.75,(+2.09%)
SE 152.67 -0.48,( -0.31%)
STM 30.09 +0.22,(+0.74%)
LL 25.5 +0.59,(+2.37%)
You can find yesterday's post here. MOMENTUM UNUSUAL OPTION ACTIVITY - First Momentum Stock Pick - Ticker : DELL 66.21 +3.78,(+6.05%)
Earnings : 2020-11-24
Name : Dell Technologies, Inc.
Industry : Computer Processing Hardware,
Sector : Electronic Technology
Special Considerations : Post-E52WkHigh
Option Information - Today’s Option Volume: 48226,
OptionOI: 162217
Multiple of ADV: 6,
ADV: 8508
Total Calls: 40107,
Total Puts: 8119
Calls at Ask: 43.7%,
Calls at Bid: 27.0%
Puts at Ask: 65.0%,
Puts at Bid: 17.3%
C/P Ratio: 4.9
Notable Strikes : SEP 18 '20 62.5 C had 4502.0 VLM and 8191 OI.
SEP 18 '20 65.0 C had 7679.0 VLM and 8435 OI.
OCT 16 '20 70.0 C had 1230 VLM and 1470 OI.
News : 2020-08-28 12:32:19 - Breakingviews - Corona Capital: Pools, Dell
(Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
2020-08-28 08:52 - Price Over Earnings Overview: Dell Technologies
In the current session, Dell Technologies Inc. (NYSE: DELL) is trading at $66.09, after a 5.44% rise. Over the past month, the stock …
Potential Sympathy Stocks for DELL
QNC-CV, POSI3-BR, NYXO, LNVGY
My Impression : Dell is running up after having good earnings. The Multiple over ADV, calls at Ask %, and C/P ratio all look good. I’ll be researching this one over the weekend to see if it’s worth an investment.
Second Momentum Stock Pick - Ticker : NTNX 28.015 +6.315,(+29.1%)
Earnings : 2020-12-01
Name : Nutanix, Inc.
Industry : Packaged Software,
Sector : Technology Services
Option Information - Today’s Option Volume: 105251,
OptionOI: 183891
Multiple of ADV: 9,
ADV: 11956
Total Calls: 84873,
Total Puts: 20378
Calls at Ask: 56.5%,
Calls at Bid: 27.7%
Puts at Ask: 34.1%,
Puts at Bid: 47.5%
C/P Ratio: 4.2
Notable Strikes : SEP 04 '20 28.0 C had 2291.0 VLM and 145 OI.
SEP 04 '20 30.0 C had 4657.0 VLM and 297 OI.
SEP 18 '20 25.0 C had 7604 VLM and 7135 OI.
SEP 18 '20 28.0 C had 4216 VLM and 151 OI.
JAN 21 '22 47.5 C had 2008 VLM and 171 OI.
JAN 21 '22 50.0 C had 1430 VLM and 792 OI.
News : 2020-08-28 11:50 - Nutanix stock rockets toward best day on record though analysts warn of uncertainty ahead
Nutanix Inc. shares are up 28% in Friday morning and on track for their largest single-day percentage gain on record after the company topped earnings…
2020-08-28 09:31 - Thinking about trading options or stock in Advanced Micro Devices, Inc., Abbott Laboratories, BMC Stock Holdings Inc, Nutanix Inc, or Royal Caribbean Cruises Ltd?
NEW YORK, Aug. 28, 2020 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for AMD, ABT, BMCH, NTNX, and RCL. Click a link below then choose between in-depth options trade idea report or a stock score report. Options Report – Ideal trade ideas on up to seven different…
Potential Sympathy Stocks for NTNX
PPPS, PPRG, PPMH, DDOG
My Impression : This stock had a massive run up. A lot of the call volume is ITM. I’ll be watching for a pull back on this one after such a great run up before thinking about investing. With such a large run up the C/P ratio is lower reflecting some are anticipating a drop. It’ll be interesting to see how much of the volume sticks into OI on Monday.
CLASSIC UNUSUAL OPTION ACTIVITY - First Classic UOA Stock Pick - Ticker : AMBA 51.98 +2.8,(+5.69%),
Earnings : 2020-09-02
Name : Ambarella, Inc.
Sector : Electronic Technology,
Industry : Semiconductors
Option Information : 2020-09-18 57.5 C - 1,281 @ 1.45 were traded at 10:37 as a BLOCK Spot Price: 50.95
2020-09-18 57.5 C - 900 @ 1.90 were traded at 14:32 as a BLOCK Spot Price: 51.81
News : No news.
Potential Sympathy Stocks for AMBA
INTC, NVDA, TXN, QCOM
Second Classic UOA Stock Pick - Ticker : ALBO 27.16 -0.29,( -1.06%),
Earnings : 2020-11-17
Name : Albireo Pharma, Inc.
Sector : Health Technology,
Industry : Pharmaceuticals: Other
Option Information : 2020-09-18 40.0 C - 1,000 @ 4.00 were traded at 15:47 as a BLOCK Spot Price: 27.06
News : No news for today.
Potential Sympathy Stocks for ALBO
OCX, OGEN, OMMH, OCUL
Upcoming Events for Next Trading Day - Here you can find a full list of tomorrow's events with explanations. Thanks for reading.
DISCLAIMER – These are my observations that I have made at the end of each day and trades that I am considering placing or watching. I am not responsible for your financial losses if you follow any of these trades. As always, do your due diligence.
Company Summary : DELL
Dell Technologies, Inc. is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware. The CSG segment consists of sales to commercial and consumer customers of desktops, thin client products, and notebooks. The VMware segment provides compute, cloud management, networking and security, storage and availability, and other end-user computing offerings. The company was founded by Michael Saul Dell in 1984 and is headquartered in Round Rock, TX.
Company Summary : NTNX
Nutanix, Inc. engages in the provision of enterprise virtualization and storage solutions. It specializes in cloud operating system that converges traditional silos of server, virtualization, storage, and networking into one integrated solution and unifies private and public cloud into a single software fabric. Its products are offered through the Acropolis and Prism brands. The company was founded by Dheeraj Pandey, Ajeet Singh, and Mohit Aron in 2009 and is headquartered in San Jose, CA.
Company Summary : AMBA
Ambarella, Inc. engages in the development and sale of video compression, image processing, and computer vision solutions. It offers processors and software that cater to end markets including security cameras, automotive cameras, industrial and robotic applications, and consumer applications. The company was founded by Feng Ming Wang and Leslie D. Kohn on January 15, 2004 and is headquartered in Santa Clara, CA.
Company Summary : ALBO
Albireo Pharma, Inc. engages in the development and commercialization of bile acid modulators for the treatment of orphan pediatric liver diseases and gastrointestinal disorders. It pipeline products include Odevixibat, A3384, and Elobixibat. The company was founded by Jan Peter Mattsson and Per-Göran Gillberg on December 8, 2003 and is headquartered in Boston, MA.
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