Market Overview

The S&P 500 fell to snap its longest streak of gains in 20 years on Monday (May 5) as investors assessed U.S. President Donald Trump's latest tariff announcement ahead of the Federal Reserve's monetary policy decision later this week.

Regarding the options market, a total volume of 37,745,834 contracts was traded.

Top 10 Option Volumes

Top 10: Tesla, Nvidia, Palantir, Apple, Amazon, Strategy, AMD, CBOE Volatility Index, Hims & Hers Health, Meta

Shares of Tesla Motors fell 2.4% on Monday following new European sales tracking data.

Tesla's valuation is falling in response to a Reuters report suggesting that the company's sales struggles are continuing in Europe. According to tracking from the Spanish Association of Automobile and Truck Manufacturers, Tesla's sales in that country sank 36% year over year in April after declining 17% across the first four months of the year.

There are 1.7 million Tesla Motors option contracts traded on Monday. Call options account for 56% of overall option trades. Particularly high volume was seen for the $280 strike call option expiring May 9, with 73,016 contracts trading. $TSLA 20250509 280.0 CALL$

Apple fell 3.2% on Monday.

There are 997.37K Apple option contracts traded on Monday. Call options account for 60% of overall option trades. Particularly high volume was seen for the $210 strike call option expiring May 9, with 50,364 contracts trading. $AAPL 20250509 210.0 CALL$

Unusual Options Activity

Berkshire Hathaway stock fell 5% on Monday on news that CEO Warren Buffett will be stepping down at year-end after 60 years of leading the company.

There are 164.70K Berkshire Hathaway option contracts traded on Monday, up 224% from the previous trading day. Call options account for 54% of overall option trades. Particularly high volume was seen for the $530 strike call option expiring May 9, 2025, with 10,064 contracts trading. $BRK.B 20250509 530.0 CALL$

TOP Bullish & Bearish Single Stocks

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 -588,131 shares of Apple stock. The largest bearish delta came from selling calls. The largest delta volume came from the 09-May-25 205 Call, with traders getting short 71,259 deltas on the single option contract.

Top 10 bullish stocks: Rocket Companies, Nvidia, JetBlue, United States Steel, Palantir, Wolfspeed, Snap, Duke Energy, Toast, Meta

Top 10 bearish stocks: Apple, Tesla, GameStop, Skechers, Petroleo Brasileiro, SoFi Technologies, Strategy, Nu Holdings, Alphabet, Rigetti Computing

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