Call buyers, stocks up, vol up?


Stocks are higher this morning on the back of a higher-than-expected GDP print and a mixed PCE. Later today is the Beige Book release. The move higher is already more than what options were pricing for the day. In today’s video Orbit we look at the possibility of vol coming off these lows from call buyers looking to play catch-up on some stocks to the upside. Something to keep an eye out for into year-end and the start of 2024. Also, we look at Salesforce earnings which come after the bell and the risk/reward of selling the move.

Vivos Therapeutics Inc (VVOS) +174.94%
General Motors Company (GM) +9.03%
Ford Motor Company (F) +3.66%
Gamestop Corp (GME) +13.71%
Las Vegas Sands (LVS) -4.22%
Alibaba Group Holding ADR (BABA) -2.24%
Docusign Inc (DOCU) +1.77%
Bilibili Inc ADR (BILI) -3.22%
Petco Health and Wellness Company Cl A (WOOF) -15.62%
Okta Inc Cl A (OKTA) -1.32%

Today’s Earnings Highlights:
Salesforce, Inc. (CRM) Expected Move: 4.68%
Synopsys, Inc. (SNPS) Expected Move: 5.10%
Snowflake Inc. (SNOW) Expected Move: 7.26%
Okta, Inc. (OKTA) Expected Move: 10.11%
Pure Storage, Inc. (PSTG) Expected Move: 8.92%
Five Below, Inc. (FIVE) Expected Move: 6.40%
PVH Corp. (PVH) Expected Move: 7.50%
Victoria’s Secret & Co. (VSCO) Expected Move: 11.40%
La-Z-Boy Incorporated (LZB) Expected Move: 7.94%

Economic Calendar:
At 01:45 PM (EST) Fed Mester Speech Impact: Medium
At 02:00 PM (EST) Fed Beige Book Impact: Medium

Unusual Options Volume:
EWC (+2571%), FTCH (+1169%), ZS (+1108%), FL (+1105%), GME (+982%), CRWD (+921%), AFRM (+811%), HPE (+794%), NVAX (+718%), GS (+641%), HD (+594%), ROKU (+593%), GOLD (+581%), COIN (+581%), OPEN (+546%), MARA (+468%), PANW (+459%), UPST (+431%), QCOM (+430%), TSLA (+403%), NVDA (+385%)

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Based upon publicly available information derived from option prices at the time of publishing. Intended for informational and educational purposes only and is not any form of recommendation of a particular security, strategy or to open a brokerage account. Options price data and past performance data should not be construed as being indicative of future results and do not guarantee future results or returns. Options involve risk, including exposing investors to potentially significant losses and are therefore not suitable for all investors. Option spreads involve additional risks that should be fully understood prior to investing. Securities trading is offered through Options AI Financial, LLC, member FINRA and SIPC

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