The S&P 500 closed a choppy session nearly unchanged on Monday(April 28), weighed down by megacaps as investors awaited several catalysts including key economic data and earnings from some of the largest U.S. companies.

Regarding the options market, a total volume of 41,323,336 contracts was traded on Monday, call ratio accounts for 56%.

Top 10 Option Volumes

Top 10: TSLA; NVDA; SoFi Technologies Inc.; PLTR; AAPL; INTC; MSTR; AMZN; Meta Platforms, Inc. ; AMD

Source: Tiger Trade App

Nvidia was down 2.1% on Monday. Shares fell on a report that Huawei Technologies has developed a new chip called the Ascend 910D, hoping it would be more powerful than Nvidia's H100. The artificial intelligence giant's market in China was already set to shrink after the Trump administration said it would impose license requirements on future sales of its H20 accelerators, which were specifically designed to meet U.S. sanctions on Chinese AI exports.

A total number of 2.41M options related to Nvidiawas traded, of which 52% were call options. A particularly high volume was seen for the $105 strike put option expiring May 2, with 79,446 contracts trading as of Monday, up 32%. $NVDA 20250502 105.0 PUT$

Source: Tiger Trade App

Unusual Options Activity

Source: Market Chameleon

SoFi Technologies raised its full-year guidance on Tuesday, with CEO Anthony Noto citing the fintech's "durable growth" in the March quarter. Quarterly earnings of six cents a share came in above the three cents a share analysts expected, according to FactSet. Adjusted net revenue grew 33% to $772 million, marking SoFi's highest growth rate in five quarters and topping Wall Street's call for $739 million. Shares were briefly up 3.9% in premarket trading.

A total number of 853.16K options related to SoFi Technologies Inc. was traded, of which 74% were call options. A particularly high volume was seen for the $15 strike call option expiring May 16, with 168,645 contracts trading as of Monday. $SOFI 20250516 15.0 CALL$

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 -882,332 shares of Tesla Motors stock. The largest bearish delta came from selling calls. The largest delta volume came from the 02-May-25 277.50 Call, with traders getting long 175,570 deltas on the single option contract.

Top 10 bullish stocks: NVDA, CRM, C, APA, CCL, INTC, VST, NEM, AMD, SBUX

Top 10 bearish stocks: TSLA, MSFT, WBA, PLTR, WBD, CVS, VTRS, PM, MRK, WFC

Source: Market Chameleon

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