Earnings season driving record option volume. Over 18M option contracts traded in the first hour Tuesday, setting a new record and suggesting total market volume may top 70M contracts for the first time in history, topping the standing record 63.1M set in Jan 2022. Among pre and post earnings names, Meta leads the flow with volume on track for 3M contracts, 6x normal, as shares trade up nearly $38, or 25%, following results which is more than double the closing 152 straddle price last night. Other names seeing very heavy pre-earnings volume include AAPL, GOOGL and F, SBUX.
Published first on TheFly
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