Market Overview
The Nasdaq closed lower on Thursday (June 25), dragged down by losses in Big Tech shares, while the S&P closed near flat and the Dow closed higher as investors digested new economic data.
Regarding the options market, a total volume of 63,895,312 contracts was traded, up 1% from the previous trading day.
Top 10 Option Volumes
Top 10: NVDA, AAPL, TSLA, MU, MSFT, AMZN, MSTR, PLTR, INTC, SPCX
Source: Tiger Trade App
NVIDIA dropped 1.6% to $195.74 on Thursday. It appeared to be establishing a trading range with a floor of roughly $200 after breaking through that level in April. However, shares fell through that floor on Thursday.
There are 2.99M Nvidia option contracts traded on Thursday, down 16% from the previous trading day. Call options account for 61% of overall option trades. Particularly high volume was seen for the $200 strike call option expiring June 26, with 162,891 contracts trading. NVDA 20260626 200.0 CALL
Apple slid 6.1% on Thursday after hiking prices for iPads and MacBooks to counter surging memory and storage chip costs.
There are 1.92M Apple option contracts traded on Thursday, up 65% from the previous trading day. Call options account for 60% of overall option trades. Particularly high volume was seen for the $280 strike call option expiring June 26, with 105,672 contracts trading. AAPL 20260626 280.0 CALL
Unusual Options Activity
Source: Market Chameleon
Micron Technology soared 15.7% on Thursday after the company beat analysts’ third-quarter earnings target and revenue surged 346% from a year ago.
There are 1,452,486 Micron option contracts traded on Thursday, up 81% from the previous trading day. Call options account for 49% of overall option trades. Particularly high volume was seen for the $1300 strike call option expiring June 26, with 55,355 contracts trading. MU 20260626 1300.0 CALL
Qualcomm gained 3.7% after the chip maker almost doubled its fiscal 2029 non-handset sales target and revealed that Facebook parent Meta Platforms was one of its customers.
There are 226,972 Qualcomm option contracts traded on Thursday, up 32% from the previous trading day. Call options account for 71% of overall option trades. Particularly high volume was seen for the $220 strike call option expiring June 26, with 15,587 contracts trading. QCOM 20260626 220.0 CALL
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