Stocks

Headlines

High Options Trading Volume for DKNG, AMZN, and NOW

Heightened trading activity caught the market's attention today. DraftKings, Amazon, and ServiceNow saw substantial options trading. The surge could signal investor sentiment shifts impacting stock prices in the near term.

Date: 
AI Rating:   7
Options Trading Insights
Today's report highlights significant options trading activity for DraftKings Inc (DKNG), Amazon.com Inc (AMZN), and ServiceNow Inc (NOW). This heightened activity could indicate shifts in investor expectations and sentiment regarding these companies.

DraftKings (DKNG)
DraftKings recorded a total volume of 71,982 contracts traded, amounting to about 7.2 million underlying shares—representing 101.4% of its average daily trading volume for the past month. The considerable interest in the $42.50 strike call option points towards bullish investor sentiment.

Amazon (AMZN)
Amazon's options trading volume stood at 367,718 contracts or approximately 36.8 million underlying shares, equating to 98.7% of its average daily trading volume. The notable volume in the $240 strike call option underscores potential bullish perspectives among investors regarding AMZN's performance.

ServiceNow (NOW)
ServiceNow experienced options volume of 17,559 contracts, reflective of 1.8 million underlying shares, which represents a substantial 98% of its average daily trading volume. The activity in the $900 strike put option may hint at a cautious sentiment among investors towards the stock's performance.

Conclusion
The overall heightened trading volumes, especially in out-of-the-money call options for DKNG and AMZN, suggest a bullish outlook among traders, which can lead to upward pressure on stock prices. Conversely, the significant put activity in NOW may indicate caution or hedging strategies. Investors should monitor these trends closely, as changes in options trading can foreshadow shifts in stock price movements.
Stocks:  DKNG AMZN NOW