Market Overview
The S&P 500 and Nasdaq closed down by more than 1% on Wednesday (June 17), as traders bet that the Federal Reserve's next move would be a rate hike after new Fed Chair Kevin Warsh highlighted the need to tame inflation and other policy makers projected rising interest rates later this year.
Regarding the options market, a total volume of 68,561,100 contracts was traded, up 18% from the previous trading day.
Top 10 Option Volumes
Top 10: TSLA, NVDA, SPCX, AAPL, MSFT, HOOD, META, AMZN, SOFI, MU
Source: Tiger Trade App
SpaceX dropped 4.95% on Wednesday. The rocket and AI company’s stock has surged since its trading debut on Friday, although investors could face a reckoning when a lockup period for shares ends.
There are 1.45M SpaceX option contracts traded on Wednesday, down 16% from the previous trading day. Call options account for 51% of overall option trades. Particularly high volume was seen for the $200 strike call option expiring June 18, with 93,841 contracts trading. SPCX 20260618 200.0 CALL
Robinhood shares rose 8.78% on Wednesday. On the news front, reports emerged that the SEC is considering allowing tokenized stocks under a proposed innovation exemption, which would enable blockchain-based versions of traditional equities to trade 24/7 with near-instant settlement. Robinhood, as a crypto-enabled brokerage, stands to benefit directly from such regulatory shifts.
There are 1.02M Robinhood option contracts traded on Wednesday, up 255% from the previous trading day. Call options account for 71% of overall option trades. Particularly high volume was seen for the $110 strike call option expiring June 18, with 64,077 contracts trading. HOOD 20260618 110.0 CALL
Unusual Options Activity
Source: Market Chameleon
Marvell Technology shares rose 3.9% on Wednesday, driven by momentum from the March NVLink Fusion partnership with Nvidia and Nvidia's $2 billion investment. The upcoming addition to the S&P 500 is also expected to boost index-related demand and increase visibility among large-cap investors.
There are 314,414 Marvell option contracts traded on Wednesday, down 18% from the previous trading day. Call options account for 52% of overall option trades. Particularly high volume was seen for the $170 strike put option expiring June 26, with 23,686 contracts trading. MRVL 20260626 170.0 PUT
Shares of digital banking platform Nu Holdings Ltd. jumped 1.34% on Wednesday. The rally was fueled by the firm’s launch of two new AI-powered financial models, growing investor enthusiasm for its AI credit platform, and its $1 billion stock repurchase program.
There are 222,937 Nu Holdings option contracts traded on Wednesday, up 55% from the previous trading day. Call options account for 78% of overall option trades. Particularly high volume was seen for the $13 strike call option expiring July 17, with 64,254 contracts trading. NU 20260717 13.0 CALL
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