Market Overview

Retail traders went on a record dip buying spree Monday(May 19), reversing a 1% decline in the S&P 500 Index triggered by the US credit downgrade from Moody’s Ratings late last week.

Regarding the options market, a total volume of 40,783,578 contracts was traded.

Top 10 Option Volumes

Top 10: NVDA, TSLA, AAPL, UNH, PLTR, AMZN, MSTR, SMCI, AMD, Cboe Volatility Index

Source: Tiger Trade App

UnitedHealth was up 8.2% after shares of the giant health insurer rose 6.4% on Friday and snapped an eight-session losing streak. The stock declined 23.3% last week after UnitedHealth CEO Andrew Witty resigned, the company suspended its 2025 outlook, and a report from The Wall Street Journal said the Justice Department was investigating the insurance giant for possible criminal Medicare fraud.

There are 723.44 million UNH option contracts traded on Monday. Call options account for 68% of overall option trades. Particularly high volume was seen for the $320 strike call option expiring May 23, with 24,728 contracts trading.

Unusual Options Activity

Source: Market Chameleon

CoreWeave, Inc. shares surged 7.8% in regular session on Monday.

There are 235,463 CoreWeave option contracts traded on Monday. Call options account for 74% of overall option trades. Particularly high volume was seen for the $100 strike call option expiring May 23, with 18,729 contracts trading.

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 sold a net equivalent of -232,621 shares of TGT stock. The largest bearish delta came from buying puts. The largest delta volume came from the 30-May-25 102 Put, with traders getting short 262,425 deltas on the single option contract.

Top 10 bullish stocks: NVDA, UNH, TSLA, AMZN, MSFT, SCHW, XEL, CARR, WBD, FSLR

Top 10 bearish stocks: AAPL, TGT, MRK, AMD, CMG, CNP, JNJ, OXY, INTC, GOOGL

Source: Market Chameleon

If you are interested in options and you want to:

• Share experiences and ideas on options trading.

• Read options-related market updates/insights.

• Learn more about options trading if you are a beginner in this field.

Please click to join Tiger Options Club