Market Overview
U.S. stocks ended nearly flat on Friday (Jan. 16) in a choppy session ahead of the long weekend, and all three major indexes posted losses for the week as fourth-quarter earnings season kicked off.
Regarding the options market, a total volume of 70,378,522 contracts was traded, up 14% from the previous trading day.
Top 10 Option Volumes
Top 10: NVDA, TSLA, PLTR, AAPL, MU, MSTR, AMD, VIX, INTC, SMCI
Source: Tiger Trade App
Micron Technology is on a tear—and it jumped another 7.8% on Friday, after one of the flash-memory chip maker’s board members signaled that he doesn’t expect the rally to end anytime soon.
Mark Liu, a former Taiwan Semiconductor Manufacturing executive who now sits on Micron’s board of directors, bought 23,200 Micron shares on Tuesday and Wednesday, a filing with the Securities and Exchange Commission late Thursday showed. The shares were worth $7.8 million as of Thursday’s close.
There are 920.73K Micron option contracts traded on Friday, up 198% from the previous trading day. Call options account for 52% of overall option trades. Particularly high volume was seen for the $360 strike call option expiring January 16, with 65,514 contracts trading. MU 20260116 360.0 CALL
Unusual Options Activity
Source: Market Chameleon
Silver fell about 3% on Friday as investors booked profits after recent record highs, while signs of easing geopolitical tensions further dampened the metal's safe-haven appeal. iShares Silver Trust dropped 2.8% on Friday.
There are 2.36 million iShares Silver Trust option contracts traded on Friday, down 10% from the previous trading day. Call options account for 52% of overall option trades. Particularly high volume was seen for the $80 strike put option expiring January 16, with 113,430 contracts trading. SLV 20260116 80.0 PUT
TOP 10 S&P 500 Bullish & Bearish
This report shows stocks with the highest volume of bullish and bearish activity by option delta volume, which converts option volume to an equivalent stock volume (bought or sold).
If we take the total positive option delta volume and subtract the total negative option delta volume, we will get the net imbalance. If the net imbalance is positive, there is more bullish pressure. If the net is negative, there is more bearish pressure.
Based on option delta volume, traders bought a net equivalent of 1,307,480 shares of Micron Technology stock. The largest bullish delta came from buying calls. The largest delta volume came from the 20-Mar-26 330 Put, with traders getting short 305,480 deltas on the single option contract. MU 20260320 330.0 PUT
Top 10 bullish stocks: MU, NVDA, SMCI, CSGP, DLR, AVGO, LRCX, JCI, HPQ, JPM
Top 10 bearish stocks: TSLA, INTC, LUV, T, PLTR, ORCL, BMY, F, AAPL; HOOD
Source: Market Chameleon
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