Top 20 Equity Options Traded
in September 2024
October 2, 2024
Market trajectory was similar to August with a rough start in early September but chopped up to nice gains by month-end. The most notable event was the much-anticipated interest rate cut by the Federal Reserve. After months of waiting, markets were rewarded with a sizable half point (50 basis point) cut with more decreases anticipated in the coming months.
All three major indices improved in a broad rally. The S&P rose to another record close (5,762.48), up 2% in September. The tech-heavy Nasdaq ended the month at 18,189.17, up 2.7%. The Dow closed at 42,330.15, a 1.9% improvement over August close.
The chart below visualizes ETF performance related on the Dow, Nasdaq and S&P indices for the month of September 2024.
We continue the trend with the top 5 symbols accounting for over 50% of trade volume. Nvidia at Tesla have a stranglehold on the #1 and #2 spots. Big Tech and chip makers continue to hold strong interest with options activity. And, we have some new/returning entrants in September with FDX, LULU, ADI, DJT and ARM in the top 20.
Below are the most active 20 equity symbols based on the number of option trades in eOption accounts in September 2024. Note that we do not make trade recommendations and are sharing this solely for your interest.
- Nvidia (NVDA)
- Tesla (TSLA)
- Amazon (AMZN)
- Booking.com (BKNG)
- Netflix (NFLX)
- Texas Instruments (TXN)
- Boeing (BA)
- Apple (AAPL)
- Microsoft (MSFT)
- Broadcom (AVGO)
- Meta Platforms (META)
- Fedex (FDX)
- Advanced Micro Devices (AMD)
- Intel Corp (INTC)
- Micron Technology (MU)
- Palo Alto Networks (PANW)
- Analog Devices (ADI)
- Lululemon (LULU)
- Trump Media (DJT)
- Arm Holdings (ARM)
Although September out-performed, October has frequently been a troubling month for the markets. This is especially true in a tough election year. Pair that with more anticipated interest rate cuts and instability on multiple fronts globally and we could easily see increased volatility. Will that be opportunity or adversity? Let’s check back next month in the October 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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