Market Overview

U.S. stocks ended sharply lower on Wednesday(Apr. 16) as Nvidia warned about steep charges from new U.S. curbs on its chip exports to China and as Federal Reserve Chair Jerome Powell said U.S. economic growth appears to be slowing.

Regarding the options market, a total volume of 54,195,194 contracts was traded.

Top 10 Option Volumes

Top 10: Nvidia, Tesla, Apple, CBOE Volatility Index, Palantir, Amazon, AMD, Meta, Strategy, Intel

NVIDIA stock sank nearly 7% Wednesday after the AI chipmaker disclosed that it would take a $5.5 billion hit from the US government's surprise new controls on its semiconductor exports to China.

There are 5.58 million NVIDIA option contracts traded on Wednesday. Call options account for 53% of overall option trades. Particularly high volume was seen for the $100 strike put option expiring Apr. 17, with 227,187 contracts trading. The $100 strike put option expiring this Thursday surged 425% on Wednesday. $NVDA 20250417 100.0 PUT$

Tesla Motors fell 5% on Wednesday.

There are 2.3 million Tesla Motors option contracts traded on Wednesday. Put options account for 52% of overall option trades. Particularly high volume was seen for the $240 strike put option expiring Apr. 17, with 115,131 contracts trading. $TSLA 20250417 240.0 PUT$

Unusual Options Activity

SPDR Gold Shares stock rose 3.3% Wednesday. Gold prices have reached unprecedented heights, soaring past $3,350 per ounce in international markets.

There are 1.26 million SPDR Gold Shares option contracts traded on Wednesday. Call options account for 70% of overall option trades. Particularly high volume was seen for the $315 strike call option expiring June 20, 2025, with 99,447 contracts trading. $GLD 20250620 315.0 CALL$

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 bought a net equivalent of 968,390 shares of Apple stock. The largest bullish delta came from selling puts. The largest delta volume came from the 17-Apr-25 235 Put, with traders getting long 1,230,172 deltas on the single option contract.

Top 10 bullish stocks: Apple, Viatris, Alphabet, Moderna, Palantir, Nvidia, NIO, Eos Energy Enterprises, ON Semiconductor, Meta

Top 10 bearish stocks: AMD, Amazon, TSMC, Datadog, Tesla, Alphabet, Walmart, Robinhood, Starbucks, Airbnb

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