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A total of 4,859.63 Ether (ETH) worth $8,011,059 was burned from Ethereum transactions on Wednesday. This follows the implementation of the Ethereum improvement proposal EIP-1159 on August 5th, 2021, which changed the fee model and introduced a variable base fee that is burned, permanently removing it from circulation. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -4.73%.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 6:00 pm

CMCSA

DIS

GOOG

GOOGL

META

The article reports on the recent options activity in the Communication Services sector. It highlights the transactions of 'whales', entities with large sums of money, in several US-listed companies including Alphabet Inc. (GOOGL), Walt Disney Co. (DIS), Google Inc. (GOOG), iQIYI Inc. (IQ), Meta Platforms Inc. (META), BP Plc (BP), Comcast Corporation (CMCSA), Sea Limited (SE), and AT&T Inc. (T). The article provides details on the type of options trade, sentiment, expiration date, strike price, total trade price, open interest, and volume for each company.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 5:35 pm

BKNG

BURL

CVNA

LULU

MAR

NKE

RIVN

TSLA

Benzinga's options activity scanner has identified unusual trading activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Carvana (CVNA), Nike (NKE), Rivian (RIVN), Burlington Stores (BURL), Booking Holdings (BKNG), Lululemon Athletica (LULU), RH (RH), Wayfair (W), and Marriott International (MAR). The activity includes both bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 5:35 pm

WDAY

A significant bullish stance has been taken on Workday (NASDAQ:WDAY) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 52% bullish and 47% bearish. The whales have been targeting a price range from $185.0 to $310.0 for Workday over the last 3 months. The price of WDAY is up 0.14% at $230.53.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 5:31 pm

INTU

A significant bullish stance has been taken on Intuit (NASDAQ:INTU) as evidenced by unusual options activity. The sentiment among big-money traders is split 50% bullish and 50% bearish. The targeted price range for Intuit over the last 3 months is from $480.0 to $520.0. Analysts from Jefferies, Barclays, Mizuho, BMO Capital, and Wells Fargo have maintained their positive ratings on Intuit with price targets ranging from $550 to $600.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 5:15 pm

A significant bearish stance has been taken on General Electric (NYSE:GE) as indicated by unusual options activity. The sentiment among big-money traders is split between 44% bullish and 55% bearish. The majority of the options uncovered are puts, with a total amount of $1,146,698, and there was 1 call, for a total amount of $32,625. Whales have been targeting a price range from $90.0 to $120.0 for General Electric over the last 3 months.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 5:01 pm

SPOT

A significant bearish stance has been taken on Spotify Technology (NYSE:SPOT) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 40% bullish and 60% bearish. The price range targeted by these investors for Spotify over the last 3 months is $135.0 to $165.0. Barclays maintains an Overweight rating on Spotify with a price target of $182, while Deutsche Bank upgraded its action to Buy with a price target of $180. However, Credit Suisse and Morgan Stanley have downgraded their actions to Neutral and Overweight respectively, with price targets of $120 and $185.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 5:01 pm

ARKK

ARKW

BITQ

BKCH

DAPP

ARK Invest's Cathie Wood suggests Bitcoin served as a 'flight to safety' during the recent banking crisis, with its price rising from $20,000 to over $30,000. Wood's funds, including ARKK and ARKW, are heavily invested in blockchain technology. The article also highlights three blockchain-related ETFs (DAPP, BITQ, BKCH) that have performed well since the start of the year.

Portfolio Pulse from Johnny Rice

August 24, 2023 | 4:48 pm

SPKX

The article discusses sector-specific volatility in the stock market, highlighting that different sectors have varying levels of sensitivity to market fluctuations. The most volatile sectors include Technology, Energy, Biotechnology and Pharmaceuticals, and Consumer Discretionary. The article suggests that understanding this volatility can help investors make informed decisions and diversify their portfolios. It also mentions the use of volatility ETFs, like ConvexityShares 1x SPIKES Futures ETF (NYSE:SPKX), as a strategy to hedge against market-wide volatility.

Portfolio Pulse from Johnny Rice

August 24, 2023 | 4:47 pm

NVDA

A large bearish position on NVIDIA (NASDAQ:NVDA) has been noticed, with 674 uncommon options trades spotted, split between 42% bullish and 57% bearish. Whales have been targeting a price range from $130.0 to $900.0 for NVIDIA over the last 3 months. The price of NVDA is up 2.89% at $484.76. Several experts maintain positive ratings on NVIDIA, with price targets ranging from $540 to $650.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 4:46 pm