Market Overview

U.S. stocks finished with losses on Tuesday(Jun 17) as the Israel-Iran conflict raged on for a fifth day and kept investor anxiety high, with the U.S. military moving fighter jets to the Middle East.

Regarding the options market, a total volume of 45,490,423 contracts was traded.

Top 10 Option Volumes

Source: Tiger Trade App

Shares of Tesla fell 3.9%. The electric-vehicle company's robotaxi launch is tentatively scheduled for June 22, according to CEO Elon Musk, and analysts have been split on how the taxis -- and the stock -- will perform. CFRA analyst Garrett Nelson recently wrote the launch should be "largely anticlimactic and lacking the fanfare of last October's Robotaxi Day," while Piper Sandler analyst Alexander Potter said he expects the stock to "sustain upward momentum in the coming weeks as more information is disclosed."

There are 1.96M Tesla option contracts traded on Tuesday, up 44% from the previous trading day. Put options account for 51% of overall option trades. Particularly high volume was seen for the $320 strike Put option expiring June 20, with 89,734 contracts trading. $TSLA 20250620 320.0 PUT$

Unusual Options Activity

Source: Market Chameleon

Shares of Coreweave rose 8.5% to a new high on Tuesday. Jefferies raised Nvidia-backed Coreweave PT to $180 from $80.

There are 583.9K Coreweave option contracts traded on Tuesday, up 63% from the previous trading day. Call options account for 76% of overall option trades. Particularly high volume was seen for the $85 strike Call option expiring July 18, with 23,241 contracts trading. $CRWV 20250718 85.0 CALL$

TOP 10 S&P 500 Bullish & Bearish

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 -2,289,156 shares of Hewlett Packard Enterprise stock. The largest bearish delta came from selling calls. The largest delta volume came from the 20-Jun-25 17 Call, with traders getting short 1,706,853 deltas on the single option contract.

Source: Market Chameleon

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