[Publishing orders] The market is ups and downs, did your options make or lose?
Index Options
On March 20 Eastern Time, trading volume in the US stock index options market increased, with a total of 7.44 million contracts traded. The put/call ratio rose to 1.16.

Single Stock Options
$Apple (AAPL.US)$It closed down 0.39%, with 861,700 option contracts traded, and the put/call ratio dropped to 0.72. Apple CEO Tim Cook stated that the Mac’s first-user launch week marked its best on record.

Observing large block trades in options, there is considerable divergence among major players regarding long and short positions.

$Super Micro Computer (SMCI.US)$It closed down 33.32%, with 1.313 million option contracts traded, and the put/call ratio rose to 0.94. Super Micro Computer's co-founder Charles Liang resigned after being charged with violating export control laws by allegedly smuggling NVIDIA chip servers to China.

Looking at PUT orders expiring this Friday, multiple contracts showed gains of over 50 times.

Observing unusual block trades in options, there remains significant disagreement among major investors.

Options Volume Leaderboard
Among the top 10 stocks by options trading volume,$Intel (INTC.US)$The highest put/call ratio reached 1.01. Intel partnered with Versa to launch an AI tool and plans to raise CPU prices by 10% by the end of the month.

The highest put/call open interest ratio is$Micron Technology (MU.US)$It reached 1.28. Despite Micron Technology reporting strong earnings, its share price still fell more than 5%. The CEO warned that AI memory demand far exceeds supply capacity.

Top 10 US stock options by trading volume

Top 10 US ETFs by options trading volume

Implied volatility leaderboard (underlying market cap > $10 billion and option volume > 100,000)
$Ondas (ONDS.US)$Implied volatility was the highest at 115.90%, a decrease of 5.15% from the previous trading day. Ondas’ revised preliminary earnings report showed net profits for Q4 2025 ranging between $82.9 million and $83.4 million, surpassing expectations.

$TeraWulf (WULF.US)$Implied volatility increased the most, reaching 110.19%, up 5.00% from the previous trading day. TeraWulf’s CFO sold 600,000 shares, cashing out $9.68 million.

Top 10 US stocks by options volatility (market cap > $10 billion and options trading volume > 100,000 contracts)

Top 10 US ETFs by implied volatility (market cap > $10 billion)

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Risk Warning
An option is a contract that gives the holder the right, but not the obligation, to buy or sell an asset at a fixed price at any time on or before a specific date. The price of an option is influenced by several factors including the current price of the underlying asset, the strike price, time to expiration, and implied volatility.
Implied volatility reflects the market’s expectation of the future volatility of an option over a certain period. It is data derived inversely from the BS option pricing model and is generally considered an indicator of market sentiment. When investors anticipate higher volatility, they may be willing to pay more for options to hedge risks, resulting in higher implied volatility.
Traders and investors use implied volatility to assess the attractiveness of option prices, identify potential mispricing, and manage risk exposure.
Disclaimer
This content does not constitute any offer, solicitation, recommendation, opinion, or guarantee for any securities, financial products, or tools. The risk of loss in trading options can be substantial. In some cases, losses may exceed the initial margin deposited. Even if you set contingent orders such as 'stop-loss' or 'limit' orders, these may not prevent losses. Market conditions may prevent these orders from being executed. You might be required to deposit additional margin within a short period. If you fail to provide the required amount within the specified time, your open positions may be liquidated. However, you will still be responsible for any shortfall in your account. Therefore, before trading, you should study and understand options and carefully consider whether such trading is suitable for you based on your financial situation and investment objectives. If you trade options, you should be familiar with the procedures for exercising options and the rights and obligations upon exercise and expiration. Option trading involves extremely high risks and is not suitable for all investors. Investors should read carefully before engaging in any options trading strategy.Characteristics and Risks of Standardized Options。
This content does not constitute any offer, solicitation, recommendation, opinion, or guarantee for any securities, financial products, or tools. The risk of loss in trading options can be substantial. In some cases, losses may exceed the initial margin deposited. Even if you set contingent orders such as 'stop-loss' or 'limit' orders, these may not prevent losses. Market conditions may prevent these orders from being executed. You might be required to deposit additional margin within a short period. If you fail to provide the required amount within the specified time, your open positions may be liquidated. However, you will still be responsible for any shortfall in your account. Therefore, before trading, you should study and understand options and carefully consider whether such trading is suitable for you based on your financial situation and investment objectives. If you trade options, you should be familiar with the procedures for exercising options and the rights and obligations upon exercise and expiration. Option trading involves extremely high risks and is not suitable for all investors. Investors should read carefully before engaging in any options trading strategy.Characteristics and Risks of Standardized Options。
Editor/Lee
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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