Futures are higher to start the 4 day week, with the S&P indicated up 0.5% and the Nasdaq up 1.3%. Nvidia’s surge continues following earnings last week with the stock up about 4%. Tesla is also helping, up more than 4% as well. The SPY was essentially unchanged once again last week, but there was more than meets the eye as it rallied almost 2.5% from its intra-week lows. IV also saw a decent range, closing the week near 17 but seeing a high near 21 on Wednesday. Although the SPY has been relatively quiet in May, up about 1%, the Nasdaq has been the story, now up nearly 10% on the month. This week features nonfarm payrolls on Friday. Earnings highlights this week include Salesforce and Crowdstrike Wednesday, with Broadcom and Lululemon Thursday.
- Palantir Technologies Inc Cl A (PLTR) +7.33%
- Tesla Inc (TSLA) +4.12%
- C3.Ai Inc Cl A (AI) +12.14%
- Nvidia Corp (NVDA) +4.70%
- Sofi Technologies Inc (SOFI) +7.39%
- Iovance Biotherapeutics Inc (IOVA) +19.60%
- Equitrans Midstream Corp (ETRN) +38.26%
- Riot Platforms Inc (RIOT) +6.14%
- Chargepoint Hldgs Inc (CHPT) +6.83%
- McDonald’s Corp (MCD) -0.36%
Today’s Earnings Highlights:
- VMware, Inc. (VMW) Expected Move: 5.60%
- HP Inc. (HPQ) Expected Move: 5.39%
- Hewlett Packard Enterprise Company (HPE) Expected Move: 7.05%
- U-Haul Holding Company (UHAL) Expected Move: 7.70%
- Box, Inc. (BOX) Expected Move: 6.94%
- Ambarella, Inc. (AMBA) Expected Move: 10.25%
Full list here: Options AI Earnings Calendar.
- At 09:00 AM (EST) S&P/Case-Shiller Home Price MoM (Mar) Estimates: 0.4%, Prior: 0.2%
- At 09:00 AM (EST) S&P/Case-Shiller Home Price YoY (Mar) Estimates: -1.6%, Prior: 0.4%
- At 10:30 AM (EST) Dallas Fed Manufacturing Index (May) Estimates: -25%, Prior: -23.4%
- At 01:00 PM (EST) Fed Barkin Speech Impact: Medium
- At 08:50 AM (EST) Fed Bowman Speech Impact: Medium
- At 09:45 AM (EST) Chicago PMI (May) Estimates: 47%, Prior: 48.6%
- At 12:30 PM (EST) Fed Harker Speech Impact: Medium
- At 01:30 PM (EST) Fed Jefferson Speech Impact: Medium
Options AI Scanner Highlights:
- Overbought (RSI): MRVL (89), AVGO (87), NVDA (84), AMD (83), PLTR (82), XP (80), META (79), TSM (78)
- Oversold (RSI): VRAY (17), BTU (23), FL (23), KO (23), AMGN (23), ABBV (24), NKE (25)
- High IV: BTG (+447%), MMAT (+417%), IEP (+290%), SAN (+245%), LU (+243%), OZK (+145%)
- Unusual Options Volume: MRVL (+1005%), AVGO (+861%), SMH (+821%), COST (+784%), ADBE (+574%), MU (+567%), QQQ (+493%), SQQQ (+491%)
Full lists here: Options AI Free Tools.
Chart of the Day:
QQQ options are pricing about a 2% move for the week. It’s higher by about 1.3% pre-market.
That’s all for now. Have a great day!
The Options AI Team
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