Market Overview

The S&P 500 ended slightly higher on Monday (June 9), lifted by Amazon and Alphabet, while investors watched U.S.-China negotiations aimed at mending a trade dispute that has rattled financial markets for much of the year.

Regarding the options market, a total volume of 43,244,956 contracts was traded, down 21% from the previous trading day.

Top 10 Option Volumes

Top 10: NVDA, TSLA, AAPL, VIX, AMZN, HOOD, AMD, PLTR, CRWV, MSTR

Source: Tiger Trade App

Tesla stock closed up 4.6% on Monday, reversing an early slide triggered by two downgrades. On Monday, Trump said that he was open to speaking with Musk, won’t sell his red Tesla. Tesla’s highly anticipated robotaxi test set to begin on June 12 in Austin, Texas.

There are 2.4 million Tesla option contracts traded on Monday, down 52% from the previous trading day. Call options account for 54% of overall option trades. Particularly high volume was seen for the $300 strike call option expiring June 13, with 105,905 contracts trading. TSLA 20250613 300.0 CALL

Apple shares dipped 1.2% on Monday after the iPhone maker kicked off its annual software developer conference with incremental developments that did little to impress investors.

There are 1.36 million Apple option contracts traded on Monday, up 26% from the previous trading day. Call options account for 65% of overall option trades. Particularly high volume was seen for the $205 strike call option expiring June 13, with 94,823 contracts trading. AAPL 20250613 205.0 CALL

Unusual Options Activity

Source: Market Chameleon

iShares Silver Trust (SLV) gained 2.1% on Monday. Silver extended its hot run on Monday, gaining another 2% to approach the $37-an-ounce level, as it continues to benefit from a weakening dollar and other market tailwinds. Spot silver rose 2.2% to $36.76 an ounce at Monday’s close, after touching $36.90 earlier for a new 13-year high. Silver futures also shot up 2.1% to $36.91 per ounce in New York.

There are 900.4K SLV option contracts traded on Monday, up 65% from the previous trading day. Call options account for 86% of overall option trades. Particularly high volume was seen for the $35 strike call option expiring June 20, with 66,111 contracts trading. SLV 20250620 35.0 CALL

Nvidia-backed CoreWeave jumped 15.7% again on Monday. CoreWeave has emerged as a new favorite in the AI chip stock arena, which went public back in March. Since the initial public offering, shares of CoreWeave have rocketed by 305.3% as of the closing bell on June 9.

There are 450.27K CoreWeave option contracts traded on Monday, up 10% from the previous trading day. Call options account for 77% of overall option trades. Particularly high volume was seen for the $110 strike call option expiring June 20, with 20,972 contracts trading. CRWV 20250620 110.0 CALL

The ongoing feud between SpaceX CEO Elon Musk and President Donald Trump is creating tailwinds for space stocks. AST SpaceMobile jumped 11.6% on Monday, Rocket Lab gained 2.5%.

There are 296.2K AST SpaceMobile option contracts traded on Monday, up 109% from the previous trading day. Call options account for 71% of overall option trades. Particularly high volume was seen for the $40 strike call option expiring June 20, with 15,071 contracts trading. ASTS 20250620 40.0 CALL

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 652,016 shares of Nvidia stock. The largest bullish delta came from buying calls. The largest delta volume came from the 13-Jun-25 144 Call, with traders getting long 206,994 deltas on the single option contract. NVDA 20250613 144.0 CALL

Top 10 bullish stocks: NVDA, WBA, AES, AMD, TSLA, MSFT, HAL, HON, EQT, UAL

Top 10 bearish stocks: MCHP, AAPL, FSLR, UNH, PEP, GE, GOOGL, PFE, SMCI; CRWD

Source: Market Chameleon

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