U.S. stocks struggled on Tuesday (Feb 25), with the S&P 500 and the Nasdaq touching one-month lows as a dour consumer confidence report put mounting economic uncertainties into sharp relief.

Regarding the options market, a total volume of 57,643,990 contracts was traded on Tuesday.

Top 10 Option Volumes

Top 10: TSLA; NVDA; PLTR; SMCI; AAPL; AMZN; MSTR; AMD; META; INTC

Source: Tiger Trade App

Nvidia stock slid 2.8% on Tuesday but rebounded 2.4% in premarket trading. Nvidia's fourth-quarter release after the closing bell on Wednesday is poised to be one of the biggest stock market events in 2025 so far. The average analyst estimate calls for the business to post net income of approximately $21.1 billion on sales of over $38 billion. The company's forward guidance will also be under the microscope and treated as a key indicator for overall growth in the AI market.

Investors are on the edge of their seats. A recent report that Microsoft is cutting back on some of its data centre expansion plans has raised growth concerns, and Nvidia's Q4 report has taken on even more significance following the market disruption caused by the DeepSeek R-1 model in January.

A total number of 2.84 million options related to Nvidia shares was traded. Open interests of Nvidia's $140, $150 call options are particularly high.

$NVDA 20250228 140.0 CALL$

$NVDA 20250228 150.0 CALL$

Source: Market Chameleon

Super Micro stock slid 12% on Tuesday while surged 27% in premarket trading on Wednesday. The server maker on Tuesday afternoon filed audited financials with the Securities and Exchange Commission.

The company also will be looking to hit its $40 billion revenue target for fiscal 2026, a goal that some see as ambitious but that management sees as reflective of the company's big opportunity to capitalize on Nvidia Corp.'s new Blackwell platform. That would be up from the $23.5 billion to $25 billion revenue target that Super Micro has for its current fiscal year.

A total number of 1.04 million options related to Super Micro was traded on Tuesday, of which 49% were call options. A particularly high trading volume was seen for the $50 strike call option expiring this Friday, with a total number of 47,948 option contracts traded as of Tuesday.

$SMCI 20250228 50.0 CALL$

Source: Market Chameleon

Unusual Options Activity

Source: Market Chameleon

Shares of Lucid Group Inc slid 6% on Tuesday while rose by as much as 10.7% in premarket trading on Tuesday after the luxury EV maker narrowed its quarterly loss, announced a CEO change, and said it aims to more than double its production this year.

A total number of 160,673 options related to Lucid was traded on Tuesday, of which 68% were call options. A particularly high trading volume was seen for the $3 strike call option expiring this Friday, with a total number of 22,732 option contracts traded as of Tuesday.

Source: Market Chameleon

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.

Top 10 bullish stocks: NVDA; PLTR; F; BMY; VST; UBER; CEG; CFG; UAL; CSCO

Top 10 bearish stocks: AAPL; FCX; T; INTC; PFE; TSLA; META; AVGO; LRCX; MO

Source: Market Chameleon

Based on option delta volume, traders bought a net equivalent of 2,973,754 shares of Nvidia stock. The largest delta volume came from the 07-Mar-25 Put, with traders getting short 877,594 deltas on the single option contract.

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