Wall Street ended sharply lower on Tuesday(Feb 3) as investors worried about AI creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
Regarding the options market, a total volume of 64,858,204 contracts was traded on Tuesday.
Top 10 Option Volumes
Source: Tiger Trade App
Netflix shares fell 3% on Tuesday as co-CEO Ted Sarandos testified in front of a Senate subcommittee over antitrust concerns regarding the company's proposed merger with Warner Bros. Discovery on Tuesday.
A total number of 553.45K options related to Netflix were traded on Tuesday, up 33% from the previous trading day, of which call options accounted for 57%. Particularly high volume was seen for the $80 strike put option expiring Mar 20, 2026, with 21,096 contracts trading.
Unusual Options Activity
Source: Market Chameleon
PayPal appointed Enrique Lores as CEO and issued cautious profit guidance, as branded checkout growth decelerated and U.S. retail softness weighed on results. The company plans to modernize checkout, expand biometrics, and improve how payment options surface during transactions. Shares dropped 20% as investors assessed near-term profitability and execution on growth initiatives.
A total number of 861.77K options related to PayPal were traded on Tuesday, up 142% from the previous trading day, of which call options accounted for 59%. Particularly high volume was seen for the $43 strike call option expiring Feb 6, 2026, with 29,750 contracts trading. $PYPL 20260206 43.0 CALL$
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