Market Overview

U.S. stocks closed slightly lower on Thursday(Mar. 20) after veering between gains and losses as investors gauged the latest round of economic data and the Federal Reserve's policy statement against tariff concerns.

Regarding the options market, a total volume of 48,711,611 contracts was traded.

Top 10 Option Volumes

Top 10: Nvidia, Tesla, Apple, Micron Technology , Meta, Amazon, Palantir, Strategy, NIO Inc. , Broadcom

Source: Tiger Trade App

Micron Technology forecast third-quarter revenue and posted second-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for its high-bandwidth memory (HBM) chips used by the AI industry.

There are 898.07K Micron Technology option contracts traded on Thursday, up 6 times from the previous trading day. Call options account for 79% of overall option trades. Particularly high volume was seen for the $120 strike call option expiring Mar. 21, with 133,400 contracts trading. $MU 20250321 120.0 CALL$

Unusual Options Activity

Source: Market Chameleon

U.S.-listed shares of PDD Holdings, the parent company of e-commerce platform Temu, closed up 4%. The Chinese retailer reported fiscal fourth-quarter revenue that rose 24% from a year earlier but missed analysts’ forecasts.

There are 286,663 PDD Holdings Inc option contracts traded on Thursday, up 56% from the previous trading day. Call options account for 63% of overall option trades. Particularly high volume was seen for the $145 strike call option expiring April. 25, with 20,241 contracts trading. $PDD 20250425 145.0 CALL$

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 -5,009,848 shares of AVGO stock. The largest bearish delta came from buying puts. The largest delta volume came from the 21-Mar-25 Put, with traders getting short 1,289,328 deltas on the single option contract.

Top 10 bullish stocks: META, AMD, WMT, WBA, NVDA, INTC, GIS, ADI, EQT, CEG

Top 10 bearish stocks: AVGO, AAPL, GOOGL, VST, GOOG, AKAM, FSLR, MSFT, NKE, ORCL

Source: Market Chameleon

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