The S&P 500 and the Dow closed lower on Monday (April 7) after a roller coaster session, with investors worried about an economic slowdown and rising inflation as U.S. President Donald Trump dug in his heels on tariffs, warning he could further increase levies on China.

Regarding the options market, a total volume of 56,788,942 contracts was traded on Monday, call ratio rose to 51%.

Top 10 Option Volumes

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

Source: Tiger Trade App

Nvidia shares rose 2.74% to $100.32 in the Tuesday premarket. The chip maker's stock rose 3.5% in Monday's session, trimming losses that briefly saw it drop below $90 amid worries over tariffs.

In a client note Monday, Bernstein analyst Stacy Rasgon reiterated his outperform rating on Nvidia stock with a price target of $185, noting artificial-intelligence servers made in Mexico that incorporate Nvidia's chips appear to be exempt from Trump's tariffs.

A total number of 5.11 million options related to Nvidia was traded on Tuesday, of which 58% were call options. A particularly high trading volume was seen for the $105 strike call option expiring April 11, with a total number of 203,234 option contracts traded as of Monday.

$NVDA 20250411 105.0 CALL$

Source: Market Chameleon

Unusual Options Activity

Source: Market Chameleon

Leveraged ETFs TQQQ, SOXL saw bullish sentiments. Nasdaq100 Bull 3X ETF rose 3% to $41.25 in premarket trading on Tuesday as major mega-cap growth stocks like Apple, Meta Platforms, Nvidia and Tesla rebounded.

There are 613,930 TQQQ option contracts traded on Monday. Call options account for 64% of overall option trades. Particularly high volume was seen for the $50 strike call option expiring this Friday, with 30,709 contracts trading as of Monday.

Source: Market Chameleon

There are 613,580 SOXL option contracts traded on Monday. Call options account for 73% of overall option trades. Particularly high volume was seen for the $9 strike call option expiring this Friday, with 36,592 contracts trading on Monday.

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; ALB; SCHW; AAPL; PLTR; SMCI; META; GOOGL; F; AMZN

Top 10 bearish stocks: ZTS; BAC; AMD; MSFT; SYK; BA; T; PFE; UBER; DVN

Source: Market Chameleon