3 Stocks Options Traders Are Circling

Options traders are targeting SIVB, JD, and GE amid their respective swings

Deputy Editor
Mar 9, 2023 at 2:54 PM
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The stock market has had a volatile day, as investors unpack jobs data and recent comments from Fed Chair Jerome Powell, while looking ahead to tomorrow's nonfarm payrolls report. In the meantime, we're taking a closer look at a few stocks making big moves today. 

Options Traders Blast Sinking Bank Name

SVB Financial Group (NASDAQ:SIVB) is plummeting on the charts, after the firm this morning announced that it will offer $1.25 billion of its common stock and $500 million of depositary shares. Silvergate Capital's (SI) liquidation announcement and subsequent record low for its shares is weighing on the bank sector as well. 

At last glance, SIVB was down 47.2% at $141.44, and trading at its lowest levels since the start of the pandemic. This bear gap has the shares below all notable short- and long-term moving averages, including former support at its 100-day trendline. Year-over-year, the equity is down 73.4%. 

Options traders are blasting SVB Financial stock amid the negative price action, with 18,000 calls and 21,000 puts exchanged so far -- 52 times the intraday average. The April 200 call is the most popular, with new positions being opened there. 

Revenue Miss Hits JD.com Stock

China-based e-commerce stock JD.com Inc (NASDAQ:JD) is down 10.5% to trade at $42.05 at last glance, after the company's fourth-quarter revenue miss. Now trading at its lowest levels since early November, the equity is down 25% year-to-date. Plus, JD's descending 20-day moving average has been guiding the shares lower for the past month. 

Over in the options pits, 113,000 calls and 65,000 puts have crossed the tape, which is four times the intraday average volume. The weekly 3/10 42-strike put is the most popular, with new positions being bought to open there. 

General Electric Stock Hits Highest Level Since 2018

On the other hand, the shares of General Electric Co (NYSE:GE) are up 6.5% at $92.62 at last glance, earlier hitting a five-year high of $94.94. The company reaffirmed its strong 2023 guidance earlier in the day, and then later unveiled a plan for a spinoff of its power business, GE Vernova, during its investor meeting. Year-to-date, the equity is up 42%. 

Options traders are targeting GE at five times the intraday average, which is 3.7 times the usual daily volume already. So far, 44,000 calls and 35,000 puts have exchanged hands, with the weekly 3/10 94-strike call seeing the most activity. 


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