Top 20 Equity Options Traded

in November 2023

December 4, 2023

In a month focused on being thankful, November delivered the rebound many position traders were hoping for.  The general consensus is that the Fed is done raising interest rates for the immediate future.  Snapping a three month losing streak, markets were up in a broad November rally with the Dow surging 8.8%, the S&P up 8.9% and tech-heavy Nasdaq Composite cranking out 10.7% for its best month in over a year.

Easing inflation and stronger than expected earnings were the primary drivers pushing marketing up in the month.  Investor sentiment brightened expecting that we are on track for a soft-landing and avoid a hard recession.  With the broad-based increase, the question is how far this rally has to move.

Below is a chart comparing ETF performance based on the Dow, Nasdaq and S&P for the month of November 2023. 

November saw big tech yielding stellar returns and justifying their stronghold on the top 20 list.  We see some interesting new entrants this month such as Zscaler (ZS) with a renewed focus on enterprise security solutions.  Crypto is back on the move with Bitcoin approaching the $40k price tag.  Coinbase (COIN) is the clear winner and tightly correlated with BTC prices.

Below are the most active 20 equity symbols based on the number of option trades in eOption accounts in November 2023.  Note that we do not make trade recommendation and are sharing this for your interest.

  1. Nvidia (NVDA)
  2. Tesla (TSLA)
  3. Block (SQ)
  4. Amazon (AMZN)
  5. (BKNG)
  6. Microsoft (MSFT)
  7. Advanced Micro Devices (AMD)
  8. Apple (AAPL)
  9. Boeing (BA)
  10. Costco Wholesale (COST)
  11. Netflix (NFLX)
  12. Marathon Digital (MARA)
  13. Meta Platforms (META)
  14. Zscaler (ZS)
  15. AirBnB (ABNB)
  16. Coinbase (COIN)
  17. Palantir (PLTR)
  18. Palo Alto Networks (PANW)
  19. Roku (ROKU)
  20. (AI)

What will happen in December?  Can we hold onto the gains and finish 2023 strong?  Or, will traders take the profits and risk off position setting up 2024? 

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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