Wall Street ended sharply lower on Thursday(Feb 5), with the Nasdaq dragged to its lowest since November by losses in Microsoft (MSFT.O), opens new tab, Amazon (AMZN.O), opens new tab and other tech heavyweights after Alphabet (GOOGL.O), opens new tab said it could double capital spending on AI in the race to dominate the emerging technology.

Regarding the options market, a total volume of 74,373,359 contracts was traded on Thursday.

Top 10 Option Volumes

Source: Tiger Trade App

Amazon on Thursday 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, and sending its shares down 10% in after-hours trading.

A total number of 1.4M options related to Amazon were traded on Thursday, up 133% from the previous trading day, of which call options accounted for 63%. Particularly high volume was seen for the $250 strike call option expiring Feb 6, 2026, with 47,274 contracts trading. $AMZN 20260206 250.0 CALL$

Unusual Options Activity

Source: Market Chameleon

Strategy reported a wider fourth-quarter loss on Thursday, as a turbulent period for digital assets caused the world's largest hoarder of bitcoin to record losses on its holdings. Shares of the Michael Saylor-led company rose 1.8% in after-hours trading, extending heavy selling from earlier in the day. They are down nearly 30% this year.

A total number of 1.29M options related to Strategy were traded on Thursday, up 90% from the previous trading day, of which put options accounted for 62%. Particularly high volume was seen for the $100 strike put option expiring Feb 6, 2026, with 37,233 contracts trading. $MSTR 20260206 100.0 PUT$

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