CSCO, BABA, and DLTR are seeing at least double their average daily options volume
Wall Street is having a stellar day following strong retail sales data, with the major indexes completely recovering their early month deficits caused by a global market selloff. Amid this backdrop, here are three stocks seeing high options volume today.
Cisco Systems Inc (NASDAQ:CSCO) stock is currently at the top of the Dow Jones Industrial Average (DJI), beating even Walmart’s (WMT) impressive post-earnings pop, after the company’s better-than-expected fiscal fourth-quarter results. Up 7.2% at $48.70 at last look, the equity is pacing for its largest single-day percentage gain since March 2020. So far, 133,000 calls and 69,000 puts have been exchanged, which is four times CSCO’s average daily options volume. The August 50 call is the most active contract, expiring tomorrow.
China-based e-commerce stock Alibaba Group Holding Ltd (NYSE:BABA) isn’t faring as well today after the company’s fiscal first-quarter revenue miss, though it has pared earlier losses — up 0.2% at $79.59 at last glance. BABA has seen 282,000 calls and 78,000 puts exchanged so far, which is triple the average amount. The August 82 call is the most popular, followed by the weekly 8/30 85-strike call, with new positions being opened at both.
Dollar Tree Inc (NASDAQ:DLTR) doesn’t report earnings until Thursday, Aug. 22, but options traders are blasting the discount retailer as it rebounds from its Aug. 13 nearly three-year low of $91.40. Up 5.2% at $97.05 at last glance today, DLTR is on track for its best day since October. So far today, 15,000 calls and 23,000 puts have swapped hands — triple the average daily options volume. The September 90 put is the most active, with new positions being opened there.