Market Overview

U.S. stocks rose on Thursday(May 8) as investors cheered a new trade agreement hammered out between the United States and Britain, while U.S. President Donald Trump signaled upcoming talks with China would be more substantial than initially thought.

Regarding the options market, a total volume of 56,528,218 contracts was traded.

Top 10 Option Volumes

Top 10: Nvidia, Tesla, Palantir, Apple, Strategy, AMD, Amazon, Robinhood, Energy Transfer, Meta

Shares of Palantir Technologies Inc. rallied 8% on Thursday.

There are 1.59 million Palantir Technologies Inc. option contracts traded on Thursday. Call options account for 59% of overall option trades. Particularly high volume was seen for the $120 strike call option expiring May 9, with 75,060 contracts trading. The $120 strike call option expiring this Friday surged 694% on Thursday. $PLTR 20250509 120.0 CALL$

Tesla Motors stock rose 3% on Thursday as President Donald Trump’s trade deal with the U.K. showed where policy might be headed.

There are 2.59 million Tesla Motors option contracts traded on Thursday. Call options account for 65% of overall option trades. Particularly high volume was seen for the $290 strike call option expiring May 9, with 179,080 contracts trading. $TSLA 20250509 290.0 CALL$

Unusual Options Activity

D-Wave Quantum Inc. stock soared 51% on Thursday after the quantum computing company reported record revenue and a narrower loss in the first quarter.

D-Wave reported first-quarter revenue of $15 million, a 509% increase from a year ago. The surge in revenue was driven by the sale of an Advantage quantum computing system to Germany’s Jülich Supercomputing Centre. D-Wave’s net loss narrowed to $5.4 million, or 2 cents a share, from $17.3 million, or 11 cents per share, last year.

There are 444.02K D-Wave Quantum Inc. option contracts traded on Thursday. Call options account for 75% of overall option trades. Particularly high volume was seen for the $10 strike call option expiring May 16, 2025, with 46,273 contracts trading. $QBTS 20250516 10.0 CALL$

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 sold a net equivalent of -2,414,320 shares of Unity Software Inc. stock. The largest bearish delta came from selling calls. The largest delta volume came from the 16-Jan-26 20 Call, with traders getting short 639,052 deltas on the single option contract.

Top 10 bullish stocks: Mattel, Robinhood, Grab, Strategy, Sunrun, Palantir, SoundHound AI, Nvidia, Amazon, Las Vegas Sands

Top 10 bearish stocks: Unity, D-Wave Quantum, Tesla, Joby Aviation, Nexgen Energy, Intel, Sirius XM, Apple, Riot Platforms, Fiserv

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