Market Overview

The S&P 500 and Nasdaq closed at record highs on Wednesday(Jul 2), boosted by gains in technology stocks and a trade agreement between the U.S. and Vietnam that eased concerns over prolonged trade tensions.

Regarding the options market, a total volume of 49,895,955 contracts was traded.

Top 10 Option Volumes

Top 10: Tesla, Nvidia, Apple, Robinhood, Strategy, MARA Holdings, AMD, Palantir, CoreWeave, CBOE Volatility Index

Tesla Motors stock rose 5% to around $316 after the EV maker released data on deliveries in the second quarter, which showed a sharp decline in sales from a year ago but were largely in line with analysts' expectations.

There are 2.80 million Tesla Motors option contracts traded on Wednesday. Call options account for 50% of overall option trades. Particularly high volume was seen for the $315 strike call option expiring Jul. 3, with 140,698 contracts trading. $TSLA 20250703 315.0 CALL$

Shares of Robinhood shares soared to an all-time high Wednesday, hitting the $100 mark for the first time and closing up some 6% to about $98.

Hewlett Packard Enterprise's acquisition of fellow S&P 500 component Juniper Networks will open a spot in the benchmark index. Investors may be betting on Robinhood to fill it.

There are 1.31 million Robinhood option contracts traded on Wednesday. Call options account for 70% of overall option trades. Particularly high volume was seen for the $100 strike call option expiring Jul. 3, with 116,431 contracts trading. The $100 strike call option expiring Jul. 3 surged 216% on Wednesday. $HOOD 20250703 100.0 CALL$

Unusual Options Activity

BigBear.ai Holdings stock rose 14% Wednesday.

BigBear.ai stock has seen big gains as investors have piled into AI stocks with significant exposure to the defense industry. Its share price is now up 63% over the last month and 70% year to date.

There are 271.49K BigBear.ai Holdings option contracts traded on Wednesday. Call options account for 81% of overall option trades. Particularly high volume was seen for the $7.5 strike call option expiring Jul. 3, 2025, with 23,516 contracts trading. $BBAI 20250703 7.5 CALL$

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 1,050,118 shares of Bank of America stock. The largest bullish delta came from buying calls. The largest delta volume came from the 17-Jun-27 43 Call, with traders getting long 896,121 deltas on the single option contract.

Top 10 bullish stocks: Vale, Robinhood, Bank of America, Oscar Health, Tilray, Enovix, Carnival, Nvidia, Nike, Walgreens Boots Alliance

Top 10 bearish stocks: CoreWeave, Tesla, Norwegian Cruise Line, Apple, UnitedHealth, Rivian, Tiger, Arm, Intel, Alphabet

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