Market Overview

The Nasdaq closed lower on Tuesday (July 1), dragged down by weakness in large-cap tech stocks, while the Dow ended higher in a volatile session marked by seasonally low liquidity.

Regarding the options market, a total volume of 49,838,823 contracts was traded.

Top 10 Option Volumes

Top 10: Tesla, Nvidia, Apple, Robinhood, Palantir, AMD, Amazon, Strategy, SoFi Technologies, UnitedHealth

Shares of Tesla Motors fell 5% on Tuesday after President Donald Trump suggested the Department of Government Efficiency, the government department tasked with rooting out inefficiency, review subsidies given to Elon Musk’s companies as the pair reignited their public feud.

There are 2.73 million Tesla Motors option contracts traded on Tuesday. Call options account for 49% of overall option trades. Particularly high volume was seen for the $300 strike put option expiring Jul. 3, with 113,017 contracts trading. $TSLA 20250703 300.0 PUT$

UnitedHealth rose 5% on Tuesday.

There are 388.55K UnitedHealth option contracts traded on Tuesday. Call options account for 73% of overall option trades. Particularly high volume was seen for the $325 strike call option expiring Jul. 3, with 24,804 contracts trading. The $325 strike call option expiring Jul. 3 surged 1052% on Tuesday. $UNH 20250703 325.0 CALL$

Unusual Options Activity

Wolfspeed Inc. shares doubled when the struggling silicone carbide chipmaker officially filed for Chapter 11 bankruptcy as planned in order to complete a debt restructuring plan.

There are 260.79K Wolfspeed Inc. option contracts traded on Tuesday. Call options account for 56% of overall option trades. Particularly high volume was seen for the $1 strike put option expiring Jul. 11, 2025, with 43,750 contracts trading. $WOLF 20250711 1.0 PUT$

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 -6,654,210 shares of CoreWeave, Inc. stock. The largest bearish delta came from selling calls. The largest delta volume came from the 18-Jul-25 105 Call, with traders getting short 1,500,240 deltas on the single option contract.

Top 10 bullish stocks: Scorpio Tankers, Trump Media & Technology, Warner Bros. Discovery, Tesla, Sonoco, Broadcom, Bank of America, Palantir, Redwire, Ford

Top 10 bearish stocks: CoreWeave, Rivian, Apple, Apartment Investment & Management Co, Intel, ATAI Life Sciences, Kraft Heinz, Alphabet, Paramount Global, Infosys

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