Dell Technologies Inc (NYSE:DELL) is up 3.9% after the tech hardware titan posted better-than-expected second-quarter earnings and revenue and raised its full-year forecast amid strong AI server demand.
Options volume is running at 2.9 times the usual intraday amount, with roughly 271,000 contracts exchanged so far. Calls account for 62% of the activity, compared to 38% for puts.
Credo Technology Group Holding Ltd (NASDAQ:CRDO) is down 19% despite beating fiscal first-quarter estimates, as margin concerns overshadow the semiconductor concern's upbeat results. Adjusted gross margin slipped to 68% from 68.3% in the previous quarter, while the company forecast fiscal second-quarter adjusted gross margin of 67% to 69%.
Options volume is running at 3.2 times the usual intraday amount, with puts making up 52% of the roughly 69,000 contracts exchanged.
GitLab Inc (NASDAQ:GTLB) is up 17.1% after reporting strong fiscal second-quarter results amid AI demand. Revenue rose 21.3% year over year to $286.25 million, topping the $273.3 million consensus estimate, while earnings of 24 cents per share beat the 18-cent estimate.
Options volume is running at four times the usual intraday amount, with calls accounting for 72% of the roughly 34,000 contracts exchanged.
Sunrun Inc (NASDAQ:RUN) is up 0.8% today, bouncing back after a 52-week low yesterday. Options traders are targeting the solar stock "on the dip," with volume running at 2.2 times the usual intraday amount. Calls are overwhelmingly popular, accounting for 99% of the roughly 52,000 contracts exchanged.
Ally Financial Inc (NYSE:ALLY) is up 3.3% after Raymond James resumed coverage with a "strong buy" rating and $55 price target. Options volume is running at 2.3 times the usual intraday amount, with roughly 12,000 contracts exchanged. Calls account for 86% of the activity, compared to 14% for puts.