Top 20 Equity Options Traded
in August 2024

September 4, 2024

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Markets tanked early in August showing signs of fear with the S&P off over 7% and Nasdaq down nearly 11% in a panic selloff at their lowest points in the month.  But, by the end of the August all three major indices had recovered and were showing modest gains.  The Dow climbed 1.8% to a record-high in the final trading day of August.  The S&P gained 2.3% while the Nasdaq posted a modest 1.8% improvement by month-end. 

Personal consumption expenditure price index and other measures are indicative of a soft-landing on the economy and continued inflation.  Expectations of a Fed cut in September are still broadly held but there is less conviction of steep and continued cuts in future months.

The chart below visualizes the market swing in ETF performance based on the Dow, Nasdaq and S&P for the month of August 2024. As noted, we included the Russell 2000 ETF (IWM).

We continue the trend with the top 5 symbols accounting for over 50% of trade volume.  Nvidia remains the “belle of the ball” and 22% of options trades in August.   Booking.com (BKNG) surges to the top three.  Big Tech and chip makers dominate options activity and we see Snowflake (SNOW), Alphabet (GOOG) and Alibaba (BABA) back in the Top 20.  Welcome back, guys! We missed you.

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

  1. Nvidia (NVDA)
  2. Tesla (TSLA)
  3. Booking.com (BKNG)
  4. Apple (AAPL)
  5. Amazon (AMZN)
  6. Texas Instruments (TXN)
  7. Netflix (NFLX)
  8. Boeing (BA)
  9. Palo Alto Networks (PANW)
  10. Zscaler (ZS)
  11. Super Micro Computer (SMCI)
  12. Palantir Technologies (PLTR)
  13. Microsoft (MSFT)
  14. Advanced Micro Devices (AMD)
  15. Intel Corp (INTC)
  16. Meta Platforms (META)
  17. Micron Technology (MU)
  18. Snowflake (SNOW)
  19. Alphabet (GOOG)
  20. Alibaba (BABA)

September and October can notoriously be challenging months in the markets, especially in an election year.  Can you hold you own and profit from the volatility?  Let’s check back in next month in the September report. 

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.

Options trading involves risk and is not suitable for all investors. Options trading privileges are subject to eOption review and approval. Please review the Characteristics and Risks of Standardized Options brochure and the Supplement before you begin trading options.

Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

Options involve risk and are not suitable for all investors. Prior to trading options, you must be approved for options trading and read the Characteristics and Risks of Standardized Options. A copy may also be requested via email at support@eoption.com or via mail to eOption, 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025.

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