The Nasdaq and the S&P 500 closed at more ​than one-week lows on Tuesday(Jun 23), dragged down by sharp losses in semiconductor stocks as investors scrutinized growing debt-funded ‌AI spending and braced for a more hawkish U.S. Federal Reserve.

Regarding the options market, a total volume of 57,081,340 contracts was traded.

Top 10 Option Volumes

Source: Tiger Trade App

Highflying memory chip stock Micron Technology was down 13% Tuesday as the tech selloff gathered pace, its largest drop in more than a year.

There are 633.42K Micron option contracts traded on Tuesday, up 15% from the previous trading day. Call options account for 50% of overall option trades. Particularly high volume was seen for the $1100 strike call option expiring June 26, with 16,279 contracts trading. $MU 20260626 1100.0 CALL$

Unusual Options Activity

Source: Market Chameleon

AMC Entertainment shares sank 24% after announcing that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 95,250,000 shares of AMC common stock. The Offering is expected to result in gross proceeds of approximately $200 million, before deducting agent fees and offering expenses.

There are 203,687 AMC Entertainment option contracts traded on Tuesday, up 65% from the previous trading day. Call options account for 82% of overall option trades. Particularly high volume was seen for the $2.5 strike call option expiring July 17, with 28,390 contracts trading. $AMC 20260717 2.5 CALL$

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