Market Overview
U.S. stocks were set to open higher on Thursday (June 11), as investors sought bargains in beaten-down technology stocks and kept a close watch on developments around the Middle East conflict and its impact on economies and businesses.
Regarding the options market, a total volume of 67,970,100 contracts was traded, up 5% from the previous trading day.
Top 10 Option Volumes
Top 10: NVDA, TSLA, INTC, AAPL, ORCL, MSFT, MU, AMZN, SMCI, VIX
Source: Tiger Trade App
Chip manufacturer Intel advanced 9.3% on Thursday to $116.96 after Bank of America upgraded shares to Buy from Underperform and raised their price target to $135 from $96.
There are 976.84K Intel option contracts traded on Thursday, up 153% from the previous trading day. Call options account for 55% of overall option trades. Particularly high volume was seen for the $120 strike call option expiring June 12, with 54,936 contracts trading. INTC 20260612 120.0 CALL
Memory-chip maker Micron Technology added 12% on Thursday as investors shrugged off rival SK Hynix’s plan to triple wafer capacity.
There are 795.34K Micron Technology option contracts traded on Thursday, up 49% from the previous trading day. Call options account for 54% of overall option trades. Particularly high volume was seen for the $1000 strike call option expiring June 12, with 32,589 contracts trading. MU 20260612 1000.0 CALL
Unusual Options Activity
Source: Market Chameleon
Oracle shares plunged 9% on Thursday after the company projected capital spending plans for fiscal 2027 above Wall Street estimates, underscoring the heavy cash outlays required to expand its AI infrastructure.
There are 871,550 Oracle option contracts traded on Thursday,up 53% from the previous trading day. Call options account for 59% of overall option trades. Particularly high volume was seen for the $170 strike put option expiring June 12, with 29,816 contracts trading. ORCL 20260612 170.0 PUT
Server maker SUPER MICRO COMPUTER gained 9.2% on Thursday, having slumped 28% on Wednesday after outlining a planned stock sale to raise $7 billion.
There are 586,059 SMCI option contracts traded on Thursday, down 16% from the previous trading day. Call options account for 74% of overall option trades. Particularly high volume was seen for the $33 strike call option expiring June 12, with 48,674 contracts trading. SMCI 20260612 33.0 CALL
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