BofA/Merrill analyst Derek Hewett resumed coverage of AGNC Investment with a Neutral rating and $17 price target. The analyst notes that mortgage REITs are typically challenged by the current low interest rate environment, but also sees AGNC Investment benefiting from its high current yield and a reasonable valuation. Hewett believes that the REIT stands "better positioned" to navigate the "hostile" interest rate environment that most of its peers.
Tuesday's total option volume of 40.6 million contracts resulted in net open interest growth of 5.36 million calls and 4.67 million puts. Tesla (TSLA), AGNC Investment Corp. (AGNC), Amazon (AMZN) and Ford (F) saw the greatest growth. Top five new positions opened include 40k Wal-Mart (WMT) May-24 59 calls, 37k AGNC Investment Corp. (AGNC) Sep-24 8 puts, 36k AGNC Investment Corp. (AGNC) Sep-24 7 puts, 28k Ford (F) 4/26 weekly 13 calls and 26k Cleveland-Cliffs (CLF) May-24 20 calls.