Top 20 Equity Options Traded

in April 2024

May 1, 2024

U.S. equity markets retreated in April snapping a 5-month winning streak.  Finishing the month with a sell-off, the Dow lost 5%, the S&P slid 4.2% and the Nasdaq fell 4.4% in April as consumer confidence about the economy wades ahead of the FOMC meeting. 

Concerns over rising labor costs are also weighing down market enthusiasm and much anticipated rate cuts by the Fed have been doused with a wet blanket, at least for the immediate future.

As most industry segments have been impacted, even crypto has lost some luster as BTC declines from all-time highs to break through its $60k support level.  As per usual, Coinbase (COIN) price is tightly correlated to the price of BTC.

Below is a chart comparing ETF performance based on the Dow, Nasdaq and S&P for the month of April 2024. 

For this month’s Top 20 List, we see some new entrants: DJT, CVE & WMT. The price of Trump Media (DJT) took a beating after being publicly listed in late March. The price was down nearly 70% in mid-April before rebounding to -37% from the initial listing price.

Artificial Intelligence remains in the news but with less exuberance compared with prior months but creating opportunity for volatility plays. Specifically, Nividia, Microsoft, AMD, Super Micro, Micron & Taiwan Semiconductor were all in the red for the month of April. 

Below are the most active 20 equity symbols based on the number of option trades in eOption accounts in April 2024. Note that we do not make trade recommendations and are sharing this solely for your interest.

  1. Nvidia (NVDA)
  2. Tesla (TSLA)
  3. Meta Platforms (META)
  4. Micron Technology (MU)
  5. Amazon (AMZN)
  6. Microsoft (MSFT)
  7. Super Micro Computer (SMCI)
  8. Netflix (NFLX)
  9. Apple (AAPL)
  10. Advanced Micro Devices (AMD)
  11. Boeing (BA)
  12. Alphabet (GOOGL)
  13. Trump Media (DJT)
  14. Intel Corp (INTC)
  15. Palantir Technologies (PLTR)
  16. Cenovus Energy (CVE)
  17. Marathon Digital (MARA)
  18. Walmart (WMT)
  19. Coinbase (COIN)
  20. Alibaba Group (BABA)

We can’t be surprised by the pull back after a 5-month run. But, are we heading for summer doldrums? Or, are markets consolidating for another bull run? We will discuss next month. 

Stay informed and trade well.

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This information provided for general informational purposes only and should not be considered recommendations or advice by eOption. Past performance is not indicative of future results.

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