Market Overview

Wall Street ended a choppy session higher on Monday(June 2) and the dollar softened as trade tensions between Washington and Beijing heated up and investors showed caution ahead of U.S. employment data and a widely expected policy rate cut from the European Central Bank.

Regarding the options market, a total volume of 39,233,117 contracts was traded.

Top 10 Option Volumes

Top 10: Nvidia, Tesla, Palantir, Apple, Meta, CBOE Volatility Index, Applied Digital, Amazon.com, AMD, Strategy

Shares of APPLIED DIGITAL CORP rose nearly 50% Monday after announcing a deal to lease data center space to AI darling CoreWeave, Inc..

Applied Digital inked a pair of 15-year deals to host CoreWeave AI infrastructure at its Ellendale, N.D., campus. The deal is expected to generate $7 billion in total revenue over the decade-and-a-half span; the company reported about $53 million in revenue in its most recently completed quarter.

There are 397.31K APPLIED DIGITAL CORP option contracts traded on Monday. Call options account for 67% of overall option trades. Particularly high volume was seen for the $10 strike call option expiring June 6, with 33,173 contracts trading. The $10 strike call option expiring this Friday surged 1420% on Monday. $APLD 20250606 10.0 CALL$

NVIDIA stock rose 1.7% on Monday as investors adjusted to new tension about trade.

There are 2.11 million NVIDIA option contracts traded on Monday. Call options account for 60% of overall option trades. Particularly high volume was seen for the $137 strike call option expiring June 6, with 123,943 contracts trading. $NVDA 20250606 137.0 CALL$

Unusual Options Activity

Shares of Tempus AI surged 15% on Monday, recovering some of last week’s sharp losses after a short-seller report from Spruce Point Capital triggered a 13% weekly drop. The rebound followed a note from TD Cowen’s Dan Brennan, which downplayed the severity of the concerns raised and characterized the selloff as largely overdone.

There are 144.34K Tempus AI option contracts traded on Monday. Call options account for 72% of overall option trades. Particularly high volume was seen for the $70 strike call option expiring June 6, with 9,807 contracts trading. $TEM 20250606 70.0 CALL$

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 sold a net equivalent of -1,430,235 shares of CoreWeave, Inc. stock. The largest bearish delta came from selling calls. The largest delta volume came from the 16-Jan-26 50 Call, with traders getting short 219,720 deltas on the single option contract.

Top 10 bullish stocks: US Steel, Applied Digital, Bath & Body Works, American Airlines, Meta, PDD Holdings, Newmont, Barrick, Cleveland-Cliffs, Colombier Acquisition

Top 10 bearish stocks: CoreWeave, Informatica, U.S. Bancorp, Mara Holdings, Riot Platforms, Alphabet, Dow Chemical, Cisco, C3.ai, Celsius Holdings

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