Key focus.

1. The bearish market presents a big "gift package"!$Super Micro Computer (SMCI.US)$Following an audit scandal, the stock plummeted over 30% yesterday, causing the put-call ratio to soar to 53%. The options trading volume surged 5.23 times from the previous trading day to 1.83 million contracts; on the options chain, the highest trading volume was for puts expiring this Friday with strike prices of $30 and $42.5, with each having almost 0.05 million contracts.

In addition, this Friday's put option with a strike price of $30.5 will profit 84 times.

Super Micro Computer announced before Wednesday's market open that Ernst & Young (EY) had resigned from auditing the company on the 24th, expressing concerns about the company's governance and transparency. Subsequently, the company's stock price flashed a sharp drop, ending over 30% lower, marking the largest decline since 2018.

2. Pre-earnings trading volume surged!$Meta Platforms (META.US)$Options trading volume nearly doubled from the previous trading day to 0.6 million contracts, with a 60% put options ratio. On the options chain, longs and shorts are in conflict. The highest trading volume for calls with a $600 exercise price expiring this Friday, amounted to 0.016 million contracts, with an open interest of 7 thousand contracts.

It is worth noting that a large investor spent $5.81 million to mainly sell calls expiring on November 1, 2024, with a $597.5 exercise price, taking a bearish position.

$Microsoft (MSFT.US)$Options trading volume nearly increased by 2.4 times from the previous trading day to 0.6 million contracts, with a put ratio of 32.8%. On the options chain, the contract with the highest trading volume is the put contract expiring this Friday with a $400 strike price.

Microsoft and Meta's latest financial results indicate the continued expansion of their AI capital expenditure! Both tech giants fell before the market open, with Microsoft dropping nearly 4% and Meta falling over 3% at the time of writing.

Has the 'Trump trade' come to a halt? $Trump Media & Technology (DJT.US)$Overnight, there was a drop of over 22% with options volume at 0.66 million contracts, where put options accounted for 44.7%. Among them, the highest trading volume was for put contracts expiring this Friday at a strike price of $40, with a volume of 0.04 million contracts. In addition, multiple put contracts with strike prices between $35 and $41.50 made over 3 times the profit.

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Risk warning

Options are contracts that give the holder the right, but not the obligation, to buy or sell an asset at a fixed price on or before a specific date. The price of options is influenced by various factors, including the current price of the underlying asset, the strike price, the expiration date, andImplied volatility.

Implied volatilityReflects the market's expectations for the volatility of options in the near future. It is data derived from the options BS pricing model, generally considered an indicator of market sentiment. When investors anticipate greater volatility, they may be more willing to pay higher prices for options to help hedge risks, leading to higher implied volatility.

Traders and investors use implied volatility to evaluate the attractiveness, identify potential mispricing, and manage risk exposure.option pricesof the attraction, identify potential mispricing, and manage risk exposure.

Disclaimer

This content does not constitute an offer, solicitation, recommendation, opinion, or guarantee of any securities, financial products or instruments. The loss risk of buying and selling options could be substantial. In certain circumstances, you may suffer losses exceeding the amount initially deposited as margin. Even if you set up backup instructions, such as stop loss or limit instructions, losses may not be avoided. Market conditions may render such orders impossible to execute. You may be required to deposit additional margin in a very short period of time. If the required amount cannot be provided within the specified time, your open contracts may be closed. However, you are still responsible for any shortfalls in your account arising from this. Therefore, before buying or selling, you should research and understand the options, and consider carefully whether such trading is suitable for you based on your financial situation and investment objectives. If you buy or sell options, you should be familiar with the exercise of options and the procedures at expiration, as well as your rights and obligations when exercising an option or at expiration.

Editor/ping