Wall Street stocks ended sharply lower on Wednesday (Mar 26), dragged down by losses in Nvidia and Tesla. U.S. President Donald Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war he kicked off upon regaining the White House this year in a move auto industry experts expect will drive up prices and stymie production.

Regarding the options market, a total volume of 45,705,884 contracts was traded on Wednesday.

Top 10 Option Volumes

Top 10: NVDA; TSLA; GME; VIX; AMD; AAPL; PLTR; AMZN; SMCI; AVGO

Source: Tiger Trade App

Nvidia stock fell 5.7% on Wednesday. The drop comes as more questions swirl around the future for Nvidia’s chips in China. Alibaba Chairman Joe Tsai said he was “astounded” by U.S. technology companies’ spending on artificial-intelligence infrastructure on Tuesday at the HSBC Global Investment Summit in Hong Kong and questioned the need for spending hundreds of billions on AI data centers.

Meanwhile, the U.S. on Tuesday added dozens of Chinese companies to a trade blacklist over national security concerns, requiring government approval before they can buy American technology. Among those added were subsidiaries of Inspur Group, China’s largest server maker and a major customer for Nvidia, Intel, and Advanced Micro Devices.

Total options trading volume related to Nvidia surges 128% to 4.1 million on Wednesday. A particularly high trading volume was seen for the $120 strike call option expiring this Friday, with a total number of 135,255 option contracts traded as of Wednesday.

$NVDA 20250328 120.0 CALL$

Source: Market Chameleon

Unusual Options Activity

Source: Market Chameleon

GameStop shares fell 7% in after-hours trading after closing up nearly 12% on Wednesday, as investors digested its cryptocurrency plans.

GameStop announced plans for a private offering of $1.3 billion in convertible senior notes, aiming to use the proceeds for general corporate purposes, including to invest in Bitcoin.

Earlier, Wedbush analysts led by managing director Michael Pachter raised their price target on the stock, noting they were impressed with a rare operating profit for the holiday quarter despite a significant drop in revenue.

A total number of 817,434 options related to GameStop was traded on Wednesday, of which 70% were call options. A particularly high trading volume was seen for the $30 strike call option expiring this Friday, with a total number of 72,433 option contracts traded as of Wednesday.

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: AAPL; PLTR; INTC; HPE; WBD; JPM; DAL; BSX; CVS; DVN

Top 10 bearish stocks: AMD; NVDA; PFE; NKE; CCL; FCX; GOOGL; SMCI; META; XOM

Source: Market Chameleon

Market sentiment for Apple stock is quite bullish on Wednesday. Based on option delta volume, traders bought a net equivalent of 364,001 shares of Apple stock. The largest bearish delta came from selling calls.

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