Market Overview

The S&P 500 ended lower on Wednesday (June 11), with investors spooked by Middle East tensions, while a tame inflation report calmed concerns around tariff-driven price pressures and traders awaited more details on China-U.S. trade talks.

Regarding the options market, a total volume of 49,578,895 contracts was traded, up 17% from the previous trading day.

Top 10 Option Volumes

Top 10: TSLA, NVDA, BABA, AAPL, VIX, PLTR, INTC, TSM, RGTI, AMZN

Source: Tiger Trade App

Alibaba shares dropped 1.3% on Wednesday. US President Donald Trump says the trade deal with China is done after talks in London. Trump says it just needs to be formally signed off on by himself and China's Xi Jinping. On June 12, 2025, Alibaba will trade ex-dividend for its respective upcoming dividends.

There are 1.26 million Alibaba option contracts traded on Wednesday, up 136% from the previous trading day. Call options account for 97% of overall option trades. Particularly high volume was seen for the $105 strike call option expiring Jume 20, with 242,711 contracts trading. BABA 20250620 105.0 CALL

TSMC shares gained 0.8% on Wednesday. TSMC slao will distribute cash dividend to shareholders for its earnings in the fourth quarter of last year. TSMC said the cash payment will be made on July 10 with an ex-dividend date set on June 12.

There are 702.41K TSMC option contracts traded on Wednesday, up 365% from the previous trading day. Call options account for 89% of overall option trades. Particularly high volume was seen for the $150 strike call option expiring Jume 20, with 104,533 contracts trading. TSM 20250620 150.0 CALL

Unusual Options Activity

Source: Market Chameleon

Quantum computing shares jumped on Wednesday after Nvidia CEO Jensen Huang said that the industry is “reaching an inflection point." Rigetti Computing surged 11.4%.

There are 477.03K Rigetti Computing option contracts traded on Wednesday, up 270% from the previous trading day. Call options account for 78% of overall option trades. Particularly high volume was seen for the $12.5 strike call option expiring Jume 13, with 34,638 contracts trading. RGTI 20250613 12.5 CALL

Shares of nuclear energy startup Oklo surged 29.5% to a fresh all-time intraday high on Wednesday after the company announced it had tentatively landed a "mission-critical" contract to provide nuclear energy to a U.S. Air Force base in Alaska.

There are 477.03K Oklo option contracts traded on Wednesday, up 793% from the previous trading day. Put options account for 54% of overall option trades. Particularly high volume was seen for the $61 strike put option expiring Jume 13, with 25,128 contracts trading. OKLO 20250613 61.0 PUT

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 bought a net equivalent of 169,886 shares of Palantir stock. The largest bullish delta came from buying calls. The largest delta volume came from the 15-Aug-25 150 Call, with traders getting long 80,150 deltas on the single option contract. PLTR 20250815 150.0 CALL

Top 10 bullish stocks: PLTR, UNH, HD, NFLX, C, BX, BBY, CRWD, META, NEE

Top 10 bearish stocks: AAPL, INTC, PEP, BAC, LULU, GE, COIN, AMZN, CMCSA; AMD

Source: Market Chameleon

If you are interested in options and you want to:

• Share experiences and ideas on options trading.

• Read options-related market updates/insights.

• Learn more about options trading if you are a beginner in this field.

Please click to join Tiger Options Club