Pre-Market IV Report January 9, 2024

Pre-Market IV Report January 9, 2024

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Pre-Market IV Report January 9, 2024

The following report is a snapshot of noteworthy changes in stock and option volumes, as well as changes in option implied volatilities. By monitoring this market data, traders can create strategies that capitalize on this often over looked information

Options with increasing option implied volatility: SPR SNAP QS PINS ELF EDR ALGN UAA SPOT FTNT S EL COTY RBLX EXPE MTCH CMG ON POT

Stocks expected to have increasing option volume: BA SPR CYTK ACI TLRY NFLX AA MCHP JNPR HPE

Airline option IV

Boeing (BA) 30-day option implied volatility is at 37; compared to its 52-week range of 22 to 41 after a panel blew off a Alaska Airlines (ALK) Boeing 737 MAX 9 jet in midair. Call put ratio 1 call to 1 put on active option volume of 545K contracts.

Spirit AeroSystems (SPR) 30-day option implied volatility is at 71; compared to its 52-week range of 39 to 104 amid wide price movement. Calal put ratio 1 call to 1.1 puts on active option volume of 59K contracts.

Spirit Airlines’ (SAVE) January weekly call option implied volatility is at 200, December is at 279; compared to its 52-week range of 24 to 223 amid SAVE and JetBlue (JBLU) trial versus the DOJ.

JetBlue (JBLU) January weekly call option implied volatility is at 97, January is at 112; compared to its 52-week range of 35 to 94 amid JBLU and Spirit Airlines’ (SAVE) trial versus the DOJ.

Movers before the bell

Juniper Networks (JNPR) 30-day option implied volatility is at 24; compared to its 52-week range of 16 to 33 into WSJ reports on potential sale to Hewlett Packard Enterprise (HPE). Call put ratio 5.4 calls to 1 put with focus on April calls.

Hewlett Packard Enterprise (HPE) 30-day option implied volatility is at 21; compared to its 52-week range of 20 to 80 into WSJ reports on potential purchase of Juniper Networks (JNPR). Call put ratio 2.5 calls to 1 put.

Option implied volatility amid recent reports of the first U.S. spot bitcoin exchange-traded fund approval in 2024

Coinbase (COIN) 30-day option implied volatility is at 84; compared to its 52-week range of 59 to 131 amid recent reports of the first U.S. spot bitcoin exchange-traded fund approval in 2024.

Marathon Digital Holdings (MARA) 30-day option implied volatility is at 145; compared to its 52-week range of 89 to 195 as Bitcoin trades $46,600.

Microstrategy, Inc. (MSTR) 30-day option implied volatility is at 86; compared to its 52-week range of 55 to 104 as Bitcoin trades $46,600.

Riot Platforms (RIOT) 30-day option implied volatility is at 121; compared to its 52-week range of 84 to 143 as Bitcoin trades $46,600. Call put ratio 2.5 calls to 1 put.

Movers

Cytokinetics (CYTK) 30-day option implied volatility is at 67; compared to its 52-week range of 42 to 280 amid wide price movement after WSJ says Novartis (NVS) close to takeover. Call put ratio 4.4 call to 1 put on active option volume of 98K contracts.

Crocs (CROX) 30-day option implied volatility is at 41; compared to its 52-week range of 36 to 80.

Chubb Corp. (CB) 30-day option implied volatility is at 19; compared to its 52-week range of 14 to 67.

Baker Hughes Company (BKR) 30-day option implied volatility is at 28; compared to its 52-week range of 24 to 89.

W. P. Carey (WPC) 30-day option implied volatility is at 22; compared to its 52-week range of 13 to 206. Call put ratio 31 calls to 1 put with focus on February 75 calls.

Straddle prices into release quarter results

KB Home (KBH) January weekly 63 straddle priced for a move of 7% into the expected release of quarter results after the bell on January 10.

Infosys (INFY) January 18 straddle priced for a move of 7.5% into the expected release of quarter results before the bell on January 11.

Options with decreasing option implied volatility: APLS AVXL CYTK WBA LW CPE CAG STZ
Increasing unusual option volume: LSPD AMAM VZ LNC DRI CYTK SPR CAN T
Increasing unusual call option volume: DRI LNC VZ TD T CYTK NXE CAN BHC
Increasing unusual put option volume: EWJ LUMN SPR HTGC ALK PTEN
Popular stocks with increasing volume: BABA PLTR BAC PTON C T INTC COIN NIO PYPL
Active options: NVDA TSLA AAPL AMD BA AMZN MARA PLTR BABA MSFT BAC META FCX RIOT F COIN VZ AMC AAL INTC
Global S&P Futures mixed in premarket, Nikkei up 1%, DAX mixed, WTI Crude oil recently at $71.50, natural gas mixed, gold at $2040

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