The Dow Jones Industrial Average blew past the historic 50,000 mark on Friday and the S&P 500 ended sharply higher, as Nvidia and other chipmakers soared and Amazon tumbled after the cloud heavyweight forecast a sharp increase in spending on AI infrastructure.
Regarding the options market, a total volume of 60,170,362 contracts was traded on Friday, of which 58% were call options.
Top 10 Option Volumes
Top 10: NVDA, AMZN, TSLA, AAPL, MSTR, AMD, MSFT, PLTR, META, MU
Source: Tiger Trade App
Amazon fell over 5% on Friday as it projected a surge of more than 50% in capital expenditures this year, joining its peers in a spending spree to build out artificial-intelligence infrastructure. Analysts had expected about $150bn in capex for 2026.
Investors were spooked by the commitment, which exceeds rivals including Google and Microsoft.
A total number of 2.91M options related to Amazon were traded on Friday, 4.3 times higher than the 90-day average trading volume. A particularly high volume was seen for the $210 strike call option expiring Feb 6, 2026, with 153,996 contracts trading as of last Friday.
Source: Market Chameleon
Unusual Options Activity
Source: Market Chameleon
Strategy Inc., formerly MicroStrategy, rallied more than 26% last Friday as Bitcoin rebounded from roughly $60,000 to about $71,000 in a single day, a move highlighted in crypto‑equity coverage that tied the swing directly to Bitcoin’s sharp intraday bounce.
Strategy reported that it held 713,502 bitcoins as of February 1, 2026, at a total cost of approximately $54.26 billion, or about $76,052 per coin, and explained that this position represents roughly 3.4% of all Bitcoin in circulation
Recent price action suggests that investors are effectively treating Strategy as an “amplified wrapped BTC,” a term used in February commentary that compared MSTR’s 26% share‑price jump to Bitcoin’s roughly 12% rebound over the same session.
There are 1.38 million Strategy option contracts traded on Wednesday, 2.4 times higher than the 90-day average trading volume. Call options related to Strategy showed huge gains on Friday. For example, the $135 strike call strike expiring this week soared 330.72%.
Source: Tiger Trade App
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.
Top 10 bullish stocks: AAPL, MU, NVDA, INTC, JNJ, MSFT, GLW, GM, CSCO, META
Top 10 bearish stocks: TSLA, UNH, TTD, GOOG, NFLX, ORCL, CVS, PYPL, WY, NKE
Source: Market Chameleon
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