Today, October 19, 2021, in the market capitalization-weighted index NASDAQ Global Select Market Composite (NasdaqGS), we saw unusual or noteworthy options trading volume and activity today in Lucid Group, Inc., which opened at $25.41.
There were 7,085 contracts traded on the $28 strike call option, at the bid, dated for October 29th, 2021.
Additionally, there were another 7,085 contracts traded on the $23 strike put option, at the ask, for the same date.
Altogether, these orders represent approximately 1,417,000 shares and $539,000 premium traded.
On September 29th, 2021, Lucid Group, Inc.’s CEO stated that production had begun and that they were on track for 2022 and 2023. However, Alex Sirois of InvestorPlace has opined:
“LCID stock did not get a boost on news that production had started. In fact, shares sit about 13% lower since the announcement. This leads me to believe any enthusiasm for the start of production was already baked into the price.”
As can be seen, 91.7% of premiums traded at these levels are bearish, with 65% on bid-side orders, with 63% in calls, representing a bearish expectation by the largest whales.
The most popular strike being bet upon at these levels is the $28 strike with 1,920% more premium traded than its bullish counterparts. The most popular expirations are the January 2022 and the January 2024, both with approximately 1.2M in bearish premium traded.
Again, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Constellium SE (CSTM), which opened at $19.03.
There were 5,760 contracts traded on the $16.5 strike put option, at the bid, dated for November 19th, 2021.
Additionally, there were another 640 contracts traded on the same strike, also at the bid, and for the same date.
Altogether, these orders represent approximately 640,000 shares and $192,000 premium traded.
Seen above are the noteworthy options orders in Constellium SE from the Unusual Whales Flow.
These orders came after Simply Wall St’s free cash flow analysis revealing that:
“Relative to the current share price of US$18.8, the company appears about fair value at a 17% discount to where the stock price trades currently.”
As of this writing, CSTM has had 7,266 puts traded, which is 227% above its 30-day put volume average.
Finally, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Delta Air Lines, Inc. (DAL), which opened at $41.03.
There were 9,500 contracts traded on the $41 strike call option, at the ask, dated for November 19th, 2021.
Additionally, there were another 9,500 contracts traded on the $43 strike call option, at the bid, and for the same date.
Altogether, these orders represent approximately 1,900,000 shares and $1,870,000 premium traded.
These orders come after reports stating that the White House “will lift travel restrictions for fully vaccinated foreign nationals from more than 30 countries, effective Nov. 8, at land borders and for air travel.”
As can be seen, 66.4% of the premiums at these levels are bullish, with 66.4% in ask-side orders, and 100% of the premium traded in calls.
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