U.S. stocks closed lower on Tuesday as the S&P 500 and Nasdaq retreated from record highs after some disappointing corporate earnings, while investors awaited a Federal Reserve policy statement.

A host of Dow components reported earnings, with UnitedHealth, Boeing and Merck all closing lower after their quarterly results.

Regarding the options market, a total volume of 47,159,006 contracts was traded on Tuesday(Jul 29).

Top 10 Option Volumes

Top 10: Nvidia; AMD; Tesla; SoFi Technologies; CBOE Volatility Index; UnitedHealth; Opendoor; SMCI; Apple; Palantir

Advanced Micro Devices shares rose 2% on Tuesday, extending momentum from Monday after reports revealed the company raised the price of its MI350 artificial intelligence chip.

The chip was up-ed by $10,000, bringing it to $25,000 per unit. The increase reflects growing confidence in AMD's competitiveness within the AI chip market, particularly against rival Nvidia's Blackwell B200.

A total number of 1.68 million options related to Advanced Micro Devices were traded on Tuesday, of which call options accounted for 68%. Particularly high volume was seen for the $180 strike call option expiring Aug 1, with 188,852 contracts trading. $AMD 20250801 180.0 CALL$

SoFi Technologies Inc. on Tuesday reported second quarter earnings that topped Wall Street targets. The financial technology company raised its full year 2025 revenue outlook for SoFi stock, which popped 7%.

In the June quarter, San Francisco-based SoFi said it earned 8 cents with net adjusted revenue up 44% to $858 million. Analysts had predicted earnings of 6 cents on revenue of $804 million. A year earlier the company had 1 cent profit using generally accepted accounting principles, or GAAP. It was another quarter of accelerating growth on the top and bottom line.

A total number of 1.41 million options related to SoFi Technologies Inc. were traded on Tuesday, of which call options accounted for 64%. Particularly high volume was seen for the $25 strike call option expiring Aug 1, with 109,580 contracts trading. $SOFI 20250801 25.0 CALL$

Unusual Options Activity

UnitedHealth stock fell 7.5% after the company provided a full-year profit forecast on Tuesday after suspending its prior outlook in May, revealing billions of additional costs the company will face in the upcoming quarters.

The health insurer projected full-year adjusted earnings per share of at least $16, well short of analysts' already diminished estimates, while second-quarter profit also missed Wall Street expectations.

A total number of 734.67K options related to UnitedHealth were traded on Tuesday, up 121% from the previous trading day, of which call options accounted for 61%. Particularly high volume was seen for the $500 strike call option expiring Jan 15, 2027, with 28,354 contracts trading. $UNH 20270115 500.0 CALL$

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 873,568 shares of SoFi Technologies Inc. stock. The largest bullish delta came from buying calls. The largest delta volume came from the 01-Aug-25 21 Call, with traders getting long 158,192 deltas on the single option contract.

Top 10 bullish stocks: Kenvue; SoFi Technologies; Broadcom; VF Corp; Hudson Pacific Properties; Merck; 3M; AES; Kinder Morgan; JetBlue

Top 10 bearish stocks: CoreWeave; Paramount Global; American Airlines; Gossamer Bio; QuantumScape; Webull; CSX; Energy Transfer; Nkarta; Chipotle Mexican Grill

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