Wall Street stocks advanced on Wednesday (April 23) on revived hopes for progress in the U.S.-China trade dispute and as President Donald Trump soothed fears the Federal Reserve could lose its autonomy with reassurances that he has "no intention of firing" Fed Chair Jerome Powell.

Regarding the options market, a total volume of 54,004,462 contracts was traded on Wednesday, call ratio accounts for 53%.

Top 10 Option Volumes

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

Source: Tiger Trade App

Wood’s Ark Investment Management bought up stock in several chipmakers on Tuesday, including $1.1 million shares of Nvidia. Nvidia stock up nearly 4%, Super Micro Computer shot up by 7.6% during the day, AMD rose 4.8%, Micron jumped 3.9%, and Broadcom gained more than 4%.

Although semiconductors and other electronics are currently exempt from steep U.S. tariffs on goods imported from China, administration officials have said those exemptions are temporary, and tariffs would probably be imposed on the sector in a month or two. Those threats have weighed heavily on chip stocks in recent days, but late Tuesday Trump said those tariffs “will come down substantially” and he intends to be “very nice” to China in trade negotiations.

A total number of 3.09 million options related to Nvidia was traded, of which 56% were call options. Bullish options related to Nvidia saw big gains on Wednesday. For example, the $102 strike call option expiring this Friday soared 118%.

Source: Tiger Trade App

Unusual Options Activity

Source: Market Chameleon

Leveraged ETFs SOXL, TSLL saw bullish sentiments. Direxion Daily Semiconductors Bull 3X rose 12% to $10.29 on Wednesday as chip stocks were among the market leaders on Wednesday thanks to President Donald Trump’s statement the day before that tariffs on China “will come down substantially,” as well as vote of confidence by famed investor Cathie Wood.

There are 495,518 Direxion Daily Semiconductors Bull 3X option contracts traded on Wednesday. Call options account for 70% of overall option trades. Particularly high volume was seen for the $11 strike call option expiring this Friday, with 32,892 contracts trading as of Wednesday.

Source: Market Chameleon

There are 354,497 option Direxion Daily TSLA Bull 2X Shares contracts traded on Wednesday, 2.4 times higher than the 90-day average trading volume. Based on option delta volume, traders bought a net equivalent of 474,262 shares of TSLL stock. The largest bullish delta came from buying calls.

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: PLTR; AAPL; F; SMCI; TSLA; AMD; BA; AMZN; T; INTC

Top 10 bearish stocks: DUK; WBA; AVGO; NVDA; CMCSA; DIS; PYPL; TGT; BAC; JNJ

Source: Market Chameleon

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