Market Overview

U.S. stocks ended higher on Thursday (June 12) after a strong outlook from Oracle fueled optimism around artificial intelligence, offsetting worries about tension in the Middle East and a drop in Boeing shares.

Regarding the options market, a total volume of 43,344,354 contracts was traded, down 13% from the previous trading day.

Top 10 Option Volumes

Top 10: TSLA, NVDA, GME, AAPL, ORCL, VIX, AMD, MSTR, SOFI, BA

Source: Tiger Trade App

GameStop shares plunged 22.5% on Thursday after the video game retailer announced plans for a $1.75 billion convertible notes offering to potentially fund its new bitcoin purchase strategy. The company also said it would turn its focus toward the trading card market.

There are 1.44 million GameStop option contracts traded on Thursday, up 244% from the previous trading day. Call options account for 62% of overall option trades. Particularly high volume was seen for the $20 strike put option expiring June 13, with 46,974 contracts trading. GME 20250613 20.0 PUT

Unusual Options Activity

Source: Market Chameleon

Oracle shares surged 13.3% on Thursday to notch a record closing price of $199.86 after the company's fiscal fourth quarter results topped Wall Street's expectations.

There are 719.31 Oracle option contracts traded on Thursday, up 176% from the previous trading day. Call options account for 58% of overall option trades. Particularly high volume was seen for the $200 strike call option expiring June 13, with 50,314 contracts trading. ORCL 20250613 200.0 CALL

Boeing shares sank 4.8% on Thursday after a 787-8 aircraft was involved in an Air India plane crash.

There are 435.18K Boeing option contracts traded on Thursday, up 447% from the previous trading day. Call options account for 52% of overall option trades. Particularly high volume was seen for the $200 strike put option expiring June 13, with 35,168 contracts trading. BA 20250613 200.0 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 953,589 shares of Oracle stock. The largest bullish delta came from buying calls. The largest delta volume came from the 13-Jun-25 200 Call, with traders getting short 164,785 deltas on the single option contract.

Top 10 bullish stocks: ORCL, NVDA, BA, MSFT, NEM, PLTR, PCG, CMG, GPN, REGN

Top 10 bearish stocks: HD, AAPL, DVN, BAC, AMZN, AMD, XOM, LULU, INTC; LOW

Source: Market Chameleon

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