Tesla, Amazon, Meta: What Options Market Indicates About These Mega Caps This Week

U.S. markets witnessed subdued performance last week dragged by a host of economic data that sparked fears of recession among investors and traders. On Friday, treasury yields rose the Labor Department reported the U.S. economy added 236,000 jobs in March, just shy of economist estimates of 240,000 new jobs.

This week is expected to witness heavy volatility as market participants will be keenly watching out for the release of the U.S. consumer price inflation data along with other economic releases including retail sales data. As investors and traders head into a busy week, here's a look at what the options market is factoring in about some of the mega-cap names:

1. Tesla Inc TSLA: Shares of Tesla closed at $185.06 on Friday, down 0.25%. Options expiring on Friday show decent open interest build-up at $195 and $200 Call strikes. Notably, the open interest build-up is significantly higher at the $200 level, possibly reflecting the market's conviction the stock is unlikely to breach the level this week. On the downside, the $180 level is likely to provide some support in the near term.

Also Read: Everything You Need To Know About Tesla Stock

2. Amazon.com, Inc. AMZN: Shares of the company closed at $102.06 on Friday, up 0.95%. Options expiring on Friday indicate decent open interest build-up at the $110 Call strike, indicating the level could provide some resistance. On the downside, the $100 level could act as a support.

3. Meta Platforms Inc META: Shares of the company closed at $216.10 on Friday, up 2.18%. Options expiring on Friday indicate the stock could face some resistance in the $215-220 zones. On the downside, $210 level could act as a decent support.

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