markets

Luke Kawa7/21/25

Opendoor call volumes hit 1 million for first time ever as gamma squeeze accelerates

The door might be open, but there’s a traffic jam as everyone tries to rush through it.

Shares of Opendoor Technologies are up more than 60% on Monday, briefly breaching $4, as enthusiasm over the potential turnaround story — and the desire to chase momentum in a stock that mooned last week — continue to produce massive flows into the name.

Daily volumes and the total value of money spent trading the stock each hit a record before the session was two hours old. That’s despite the company having been about 7x larger back in 2021.

And call volumes breached 1 million for the first time ever, setting a daily record for the fifth consecutive session.

Opendoor is the easiest example of the gamma squeeze we discussed earlier playing out.

Call options volumes are accelerating and migrating up the chain, with increasing demand for the options that are out of the money but getting closer to being money-good.

For instance, the most active contract today is the call option with a strike price of $4.50 that expires this Friday. This contract had no open interest prior to today. All of these are new bets, made today, with the rush into these wagers with embedded leverage putting upward pressure on the shares.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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