Market Overview

U.S. stocks slumped on Friday (Aug. 1), and the S&P suffered its biggest daily percentage decline in more than two months as new U.S. tariffs on dozens of trading partners and a surprisingly weak jobs report spurred selling pressure.

Regarding the options market, a total volume of 70,291,226 contracts was traded, up 20% from the previous trading day.

Top 10 Option Volumes

Top 10: NVDA, TSLA, AAPL, AMZN, VIX, MSTR, AMD, HOOD, PLTR, META

Source: Tiger Trade App

Apple shares dropped 2.5% on Friday after it posted a current-quarter revenue forecast well above Wall Street estimates, but CEO Tim Cook warned U.S. tariffs would add $1.1 billion in costs over the period.

There are 2.1 million Apple option contracts traded on Friday, up 96% from the previous trading day. Call options account for 67% of overall option trades. Particularly high volume was seen for the $205 strike call option expiring August 1, with 151,774 contracts trading. AAPL 20250801 205.0 CALL

Amazon shares sank 8.3% on Friday as the tech giant's results fanned investor fears its cloud unit was falling behind Microsoft and Alphabet in the artificial intelligence race.

There are 1.88 million Amazon option contracts traded on Friday, up 36% from the previous trading day. Call options account for 66% of overall option trades. Particularly high volume was seen for the $215 strike put option expiring August 1, with 65,592 contracts trading. AMZN 20250801 215.0 PUT

Unusual Options Activity

Source: Market Chameleon

Strategy shares tumbled 8.8% on Friday despite the company announcing a $10 billion profit in the second quarter. Strategy now holds more than 3% of Bitcoin’s total supply. That amounts to 628,791 Bitcoin, worth about $74 billion.

There are 1.28 million Strategy option contracts traded on Friday, up 146% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $420 strike call option expiring August 8, with 54,417 contracts trading. MSTR 20250808 420.0 CALL

AMD stock dropped 2.6% on Friday. The company's share price is seeing a small pullback in conjunction with broader valuation trends in the chip industry. AMD is set to report its Q2 results on Aug. 5, and the stock could make big moves depending on the company's performance in the AI data center market.

There are 1.19 million AMD option contracts traded on Friday, up 29% from the previous trading day. Call options account for 61% of overall option trades. Particularly high volume was seen for the $172.5 strike call option expiring August 1, with 118,104 contracts trading. AMD 20250801 172.5 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 1,198,242 shares of Ford stock. The largest bullish delta came from selling puts. The largest delta volume came from the 01-Aug-25 11 Put, with traders getting long 1,315,168 deltas on the single option contract. F 20250801 11.0 PUT

Top 10 bullish stocks: F, CRM, TSLA, NVDA, FTNT, PG, BAC, V, WMT, CSX

Top 10 bearish stocks: AMZN, AAPL, UNH, MSFT, PLTR, COIN, META, SMCI, INTC; GOOGL

Source: Market Chameleon

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