Financial and tech stocks were hit hard by a handful of persistent investor worries on Friday (Feb 28), with U.S. stocks suffering their largest monthly percentage declines in a year.
Regarding the options market, a total volume of 69,037,435 contracts was traded on Friday, of which 56% were call options.
Top 10 Option Volumes
Top 10: NVDA, NFLX, TSLA, AAPL, MSFT, SOFI, AMZN, PLTR, CRWV, MSTR
Nvidia shares fell 4% on Friday after slumping 5% in the previous session following the AI chip maker's blowout earnings.
Investors have spent the past few months worrying about megacap companies' ambitious capital expenditure plans and, more recently, about how AI might disrupt sectors like software.
There are 5.37 million Nvidia option contracts traded on Friday, 2 times higher than the 90-day average trading volume. A particularly high volume was seen for the $200 strike call option expiring Mar 20, with 93,809 contracts trading as of Friday. $NVDA 20260320 200.0 CALL$
The Wall Street Journal reported late on Friday that the company is soon planning to debut an inference-oriented chip platform that brings in technology designs from Groq, the startup that Nvidia struck a $20 billion licensing deal with at the end of last year.
Unusual Options Activity
Netflix’s stock surged 13.77% to $96.24 on Friday. Netflix said that it was walking away from its agreement to acquire Warner Bros. Discovery, after WBD said it had determined that a last-minute bid by Paramount Skydance was a better deal.
There were 2,937,701 Netflix option contracts traded on Friday, 6 times higher than the 90-day average trading volume. Call options related to Netflix showed big gains on Friday. For example, the $96 strike call option expiring this Friday soared 2133%. $NFLX 20260306 96.0 CALL$
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