Top 20 Equity Options Traded

in March 2024

April 1, 2024
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Another month, another record all-time high for the U.S. market major indices. March month-end marks the end of Q1 with the S&P up 10.2%, the Dow higher by 5.6% and the Nasdaq better by 9.1% for the quarter. 

Markets appear to be fully pricing in a rate cut from the Fed mid-year. However, the PCE index ticked slightly higher in February. This was announced in the morning of March 29th. when markets were closed for the Good Friday holiday. Employment numbers are holding sound. Fund inflows remain significant for bond, equity and newly minted spot bitcoin ETFs. 

Artificial Intelligence, and all related software and required hardware remain in the news. The demand for crypto surges with multiple ETF funds creating demand for BTC, ETH and other tokens.

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

For this month’s Top 20 List, we have a bit of movement with new entrants but 16 are holding strong. Chipotle continued to impress up 30% YTD and 8% in March. 

The Artificial intelligence drums continue to beat loudly driving what some consider frothy valuations for Nvidia. Riding on their coattails with the demand for compute power are AMD, Super Micro, Micron & Taiwan Semiconductor. Crypto is also finding new heights with Bitcoin hitting all-time high of $73,135 in March. Coinbase (+30%) and MicroStrategy (+66%) stock price is tightly corrected to the price of BTC driving them both higher in the month. 

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

  1. Chipotle Mexican Grill (CMG)
  2. Nvidia (NVDA)
  3. Apple (AAPL)
  4. Advanced Micro Devices (AMD)
  5. Tesla (TSLA)
  6. Boeing (BA)
  7. Amazon (AMZN)
  8. Coinbase (COIN)
  9. Microsoft (MSFT)
  10. Micron Technology (MU)
  11. Super Micro Computer (SMCI)
  12. Meta Platforms (META)
  13. Palantir Technologies (PLTR)
  14. Intel Corp (INTC)
  15. Snowflake (SNOW)
  16. Alcoa Corp (AA)
  17. Marathon Digital (MARA)
  18. Zoom Video Communications (ZM)
  19. Taiwan Semiconductor Manufacturing (TSM)
  20. MicroStrategy (MSTR)

Can the bull market hold out for another month in April? We will have a lot of data to digest in the next few weeks. 

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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