Tuesday's Vital Data: Tesla Inc (TSLA), Apple Inc. (AAPL) and Valeant Pharmaceuticals International, Inc. (VRX)

Popular Posts:

Recent Posts:

U.S. stock futures are trending cautiously higher this morning, as focus remains on the Federal Reserve and the central bank’s interest rate policy. While the Fed is widely expected to raise rates at this week’s meeting, investors are keen to uncover clues to the bank’s policy outlook for 2018.

Against this backdrop, Dow Jones Industrial Average futures are up 0.18%, S&P 500 futures have added 0.10% and Nasdaq-100 futures are higher by 0.02%.

On the options front, volume was anemic on Monday, with only about 14.1 million calls and 10.9 million puts changing hands yesterday. As for the CBOE, the single-session equity put/call volume ratio rose to 0.63, while the 10-day moving average once again held at a 12-month low of 0.58.

Taking a closer look at Monday’s options activity, Tesla Inc (NASDAQ:TSLA) calls and puts were active as reports emerged that “hundreds” of Model 3s are now showing up at delivery centers. Meanwhile, Apple Inc. (NASDAQ:AAPL) call options jumped on news the company affirmed its acquisition of music and image recognition service Shazam. Finally, Valeant Pharmaceuticals International, Inc. (NYSE:VRX) was call heavy ahead of a pair of drug milestones for the company.

Tesla Inc (TSLA)

With TSLA stock on the verge of a “death cross,” news emerged to help rocket the shares more than 4% higher. Electric vehicle news website Electrek reported that “hundreds” of Model 3s were showing up at distribution centers in California. The news eased Model 3 production concerns for investors, prompting a surge in TSLA shares. However, Electrek did note that “It wasn’t clear if this would mark an increase in the delivery volume,” since they were unable to verify if production bottlenecks had been cleared.

It was all the speculation TSLA options traders needed. Volume surged to 190,000 contracts, or roughly 1.4 times Tesla’s daily average. That said, calls, or bullish options bets on TSLA, only made up 55% of yesterday’s activity.

Furthermore, most of this speculation appears to have been on front-month activity, as the January 2018 put/call open interest ratio remained unmoved at 1.52 from yesterday’s reading. TSLA stock is still in danger of a “death cross,” or a cross of its 50-day moving average below its 200-day moving average, and resistance still lies overhead near $330-$335. Tesla is not out of the woods just yet.

Next Page

Let's block ads! (Why?)

Read Again https://investorplace.com/2017/12/monday-vital-data-tesla-inc-tsla-apple-inc-aapl-valeant-pharmaceuticals-international-inc-vrx/

Bagikan Berita Ini