Market Overview

The S&P 500 ended nearly flat on Wednesday(Jun 18), giving back earlier gains after Federal Reserve Chair Jerome Powell said inflation in goods prices is expected to go up over the summer as President Donald Trump's tariffs work their way to consumers.

Regarding the options market, a total volume of 47,417,619 contracts was traded.

Top 10 Option Volumes

Source: Tiger Trade App

Coinbase rallied 16.3% on Wednesday after the Senate passed a bill to regulate stablecoins, called the Genius Act. Stablecoins most often are pegged to the dollar and backed by reserves.

There are 942.41K Coinbase option contracts traded on Wednesday, six times higher than the previous trading day. Call options account for 74% of overall option trades. Particularly high volume was seen for the $300 strike Call option expiring June 20, with 65,277 contracts trading. $COIN 20250620 300.0 CALL$

Unusual Options Activity

Source: Market Chameleon

Circle Internet Corp. shares jumped another 15% in premarket trading on Friday after surging 34% on Wednesday.

There are 492,242 Circle Internet Corp. option contracts traded on Wednesday, up 178% from the previous trading day. Call options account for 57% of overall option trades. Particularly high volume was seen for the $200 strike Call option expiring June 20, with 39,199 contracts trading. $CRCL 20250620 200.0 CALL$

TOP 10 S&P 500 Bullish & Bearish

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 bought a net equivalent of 6,343,598 shares of UnitedHealth stock. The largest bullish delta came from selling puts. The largest delta volume came from the 20-Jun-25 470 Put, with traders getting long 765,000 deltas on the single option contract.

Source: Market Chameleon

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