1. US stock options trading list

1.$Microsoft(MSFT.US)$Recently, the overall implied volatility rate has shown an upward trend, with the share of bullish prices rising sharply to 70% overnight; in the options chain, bullish chips are being hoarded by investors. The most active ones are the 360 and $350 exercise calls that expire on October 20, which have traded 20,000 and 12,000, respectively, with unclosed positions of 26,000 and 20,000.

After six consecutive trading days of decline, Microsoft finally escaped its worst consecutive decline in more than a year on Monday. According to reports, Microsoft got rid of the last “sell” rating on Wall Street. Earlier, Guggenheim analyst John DeFogge downgraded the stock's rating to sell, with a target price of $212. However, on Monday, he recently stated that he no longer thinks generative artificial intelligence will be just a story, but still questions how much monetization it will achieve and within what time frame it will be achieved, and that Microsoft's rating will be raised to neutral.

2,$Sea(SE.US)$Overnight, it soared nearly 12%, with options trading volume increasing nearly four times from the daily average, accounting for 75.5%; the $41 bull options that expire this Friday have the highest volume, but most of them have already been closed; the multiple call options that expire this Friday and that have been issued for $39-42 have all been profited more than 10 times.

Sea, known as the “Little Tencent of Southeast Asia,” has reported that the company's game “Free Fire India” re-entered the market on September 5 after being banned in India for a year and a half. This is beneficial or boosted the company's sales situation. In February 2022, New Delhi blocked “Free Fire,” which was India's most popular Sea mobile game at the time, due to security concerns.

3.$AMC Entertainment(AMC.US)$It rose nearly 7% overnight, and the implied volatility fell to the annual percentile level of 9%, accounting for nearly 60% of the bullish trend; the long and short game sentiment in the options chain is still strong. The top three trading volumes are the call, which expires this Friday, the $8 exercise call, the 7.5 dollar put, and the 8.5 dollar call, respectively.

II. The trading list of US stock indexes and industry ETF options

On the NASDAQ, S&P both rose by about 0.4% overnight.$SPDR S&P 500 ETF(SPY.US)$Approximately 7.66 million copies were sold, and the sell-to-purchase ratio rose from 1.37 to 1.64, which is at a high level during the year.$Invesco QQQ Trust(QQQ.US)$There was a difference in the sell-to-buy ratio trend, falling from 1.38 to 1.24.

Specifically, the highest SPY trading volume was the zero-day PUT option expiring at 431/430/429 US dollars, while the highest amount of unliquidated positions was the put of 430/420 US dollar exercise rights that expired on October 20.

According to J.P. Morgan, zero-day maturing options (0DTEs) trading volume continues to reach record highs. Recently, it has accounted for half of all S&P 500 options trading volume. Coupled with the recent rise of the first batch of ETFs based on 0DTE options, Komo is not optimistic about this.

The bank's analysts warned that the end-of-day boom could trigger a stock market storm, similar to the “end of volatility” (Volmageddon) triggered after the introduction of VIX-related ETPs that year. New ETFs linked to zero-date options currently have total assets of only about $15 million, so their current impact is minimal, but once the asset management scale of these funds increases dramatically, it may increase the tail risks brought about by zero-date options.

3. Implicit Volatility (IV) Fluctuation List of Individual Stocks

Immunology, Inc.$Immunovant(IMVT.US)$The implied volatility rate rose again to the highest percentile level during the year. More than 3,000 options were traded, with a sell-to-buy ratio of 1.36. The highest PUT volume due on Friday was 17.5 US dollars. The company will host a conference call and webcast on September 26 to report the preliminary results of the first phase of IMVT-1402.

Risk warning

An option is a contract that gives a holder the right, but no obligation, to buy or sell an asset at a fixed price on or at any time prior to that date. The price of an option is affected by a number of factors, including the underlying asset's current price, exercise price, expiration time, and implied volatility.

The implied volatility reflects the market's expectations for options to fluctuate over a period of time to come. It is data inverted by the options BS pricing model, and is generally viewed as an indicator of market sentiment. When investors anticipate greater volatility, they may be more willing to pay higher options to help hedge risks, leading to higher implied volatility.

Traders and investors use implied volatility to assess the appeal of option prices, identify potential mispricing, and manage risk exposure.

Disclaimers

This content does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments. The risk of losing money when trading options can be extremely high. In some cases, you may lose more than the amount of your initial deposit. Even if you set backup instructions, such as “stop corrosion” or “limit price” instructions, you may not be able to avoid losses. Market conditions may make such instructions unenforceable. You may be asked to deposit an additional security deposit within a short period of time. If you fail to provide the required amount within the specified time, your open positions may be closed. However, you are still responsible for any shortfall in your account as a result. Therefore, you should study and understand options before trading, and carefully consider whether this type of trading is suitable for you based on your financial situation and investment goals. If you trade options, you should be familiar with the procedures for exercising options and when they expire, as well as your rights and responsibilities when you exercise options and when they expire.

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