Top 20 Equity Options Traded
in June 2024

July 2, 2024


The word to describe June markets is “concentration”. Concentration on artificial intelligence and Nvida specifically which sucked the focus away from other sectors.

For the month the Nasdaq continued its rise up 6%, the S&P climbed 3.5% higher and the Dow rose 1.1%. Wrapping up the first half of 2024, the Nasdaq surged 18.1%, the S&P jumped 14.5% and the Dow slogged out a steady 4.7%. Macro-economic indicators showed improvements with May inflation rate slowed to its lowest point in 3 years. Personal consumption expenditures (PCE) were flat in June matching expectations. In other markets, Bitcoin (BTC) was up 43% and gold (GLD) was up 13% in 2024 year-to-date.

Although markets have been performing extremely well, concern over anticipated rate cuts, consumer sentiment, inflation and the looming US presidential election may weigh on performance in the second half of 2024.

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

We continue the trend with the top 5 symbols accounting for 50% of the trade volume, Nvidia continues in the #1 spot and is the heavyweight with 25% of trade activity in June, up 154% in 2024.  A 10:1 stock split may make the price look cheaper for some.

In non-Nvidia news, we see continued interest in the Mag-7.  Cybersecurity provider, CrowdStrike, makes an entrance as JP Morgan returns along with Texas Instruments, Dell, Chevron and Paypal. 

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

  1. Nvidia (NVDA)
  2. Advanced Micro Devices (AMD)
  3. Apple (AAPL)
  4. Micron Technology (MU)
  5. Amazon (AMZN)
  6. Tesla (TSLA)
  7. Meta Platforms (META)
  8. GameStop (GME)
  9. Palantir Technologies (PLTR)
  10. CrowdStrike (CRWD)
  11. Microsoft (MSFT)
  12. JP Morgan (JPM)
  13. Boeing (BA)
  14. Palo Alto Networks (PANW)
  15. Super Micro Computer (SMCI)
  16. Netflix (NFLX)
  17. Texas Instruments (TXN)
  18. Dell Technologies (DELL)
  19. Chevron (CVX)
  20. PayPal (PYPL)

Who will be the best performers in the second half of the year? Nasdaq has not seen a decline in July since 2007. Can NVDA and a few other techs carry the market higher?  We will discuss in next month’s 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.

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