China-based EV giants Li Auto Inc (NASDAQ:LI) and Nio Inc (NYSE:NIO) are both in the spotlight after surpassing fourth-quarter delivery estimates due to strong December sales. LI delivered 44,246 cars in December-- roughly 4,000 more than anticipated -- though representing a 24% year-over-year decrease. NIO reported 48,135 sales for the same period, slightly surpassing estimates and marking a 55% year-over-year increase.
At last glance, LI was up 1.6% at $17.20, still trading near its Dec. 18 three-year low of $16.11. The stock lost 29.4% in 2025 for its second year in the red, while pressure at the 30-day moving average appears to be keeping a cap on gains today.
Over in the options pits, LI has seen 12,000 calls exchanged so far -- double the call volume typically seen at this point -- with the most activity at the January 2026 16.50-strike call. LI is sporting attractively priced premium at the moment, too, per its Schaeffer's Volatility Index (SVI) of 46%, which stands higher than 14% of annual readings.
Fresh off a 17% gain in 2025, NIO was last seen up 1.7% at $5.18. The equity recently found support at the $5 region after a pullback from its Oct. 2 52-week high of $8.01.
Over the last two weeks, NIO calls have been much more popular than usual in the options pits. The stock's 10-day call/put volume ratio of 10.75 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 98% of readings from the past year.
