The Big Four's performance diverges after results! Who is the real winner in AI?
Today's Options Opportunity Preview
On the individual stock level, The Big Four's Earnings Show Divergence, $Alphabet-C (GOOG.US)$ Pre-market Up 6.34%, $Amazon (AMZN.US)$ Up 2.68%, $Microsoft (MSFT.US)$ Down 1.12%, $Meta Platforms (META.US)$ Down 8.8%. Google's Q1 revenue exceeded expectations with a 22% growth; the options market shows Google's put/call ratio at 0.55, implied volatility (IV) at 37.91%, and bullish forces dominating.

$Seagate Technology (STX.US)$Earnings Beat Expectations Again, Igniting Memory Sector Rally, Seagate Technology Pre-market Up 1.37%, $Western Digital (WDC.US)$ Up 3.61%, $SanDisk (SNDK.US)$ Up 2.97%. SanDisk is set to release its earnings report after today's market close. The options market shows SanDisk’s put-to-call ratio at 1.37, indicating investors are opening put positions to hedge against a potential post-earnings pullback.

Review of yesterday’s options
Index Options
On April 29 Eastern Time, trading volume in the U.S. index options market declined, with a total of 4.52 million contracts traded. The put-to-call ratio fell to 1.01.
As the upcoming expiration date approaches,$S&P 500 Index (.SPX.US)$ The distribution of options trading volume showed the following characteristics: peak put option volume at 7,115 points, and peak call option volume at 7,200 points.

Single Stock Options
$Intel (INTC.US)$Closed up 12.10%, with 1.7499 million options contracts traded, and the put-to-call volume ratio dropped to 0.76. Intel's stock hit a 52-week high, surging 12% driven by AI demand and analysts upgrading their ratings.

$SoFi Technologies (SOFI.US)$Closed down 15.44%, with 1.0534 million options contracts traded, and the put-to-call volume ratio dropped to 0.40. SoFi Technologies maintained its full-year 2026 guidance unchanged after posting record Q1 results, but its stock plummeted over 13%.

Top list of options trading volume
Among the top 10 stocks by options trading volume,$Intel (INTC.US)$The highest put-to-call volume ratio reached 0.76.

The highest put/call open interest ratio is$Advanced Micro Devices (AMD.US)$, reaching 1.07. Meta CEO Zuckerberg announced that the company will deploy a large number of AMD chips to work alongside the new NVIDIA systems.

Implied volatility rankings (underlying market cap > $10 billion and options trading volume > 100,000)
$POET Technologies (POET.US)$Implied volatilityThe highest was 133.68%, down 0.35% from the previous trading day. Marvell canceled all purchase orders with POET Technologies due to breach of confidentiality agreements, causing POET's share price to plummet by 47%.

$Plug Power (PLUG.US)$Implied volatility increased the most, reaching 110.27%, up 4.55% from the previous trading day. Clear Street maintained a Buy rating on Plug Power and raised its target price from $3 to $3.5.

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 on a specific date or before that date. The price of an option is influenced by various 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 option's volatility over a certain period in the future. It is derived inversely from the BS pricing model of options and is generally considered an indicator of market sentiment. When investors anticipate greater volatility, they may be more willing to pay higher prices for options to hedge risks, resulting in higher implied volatility.
Traders and investors use implied volatility to assessOption priceto enhance attractiveness, identify potential mispricing, and manage risk exposure.Disclaimer
This content does not constitute any offer, solicitation, recommendation, opinion, or guarantee of 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 make such orders unexecutable. You may 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. Options trading carries extremely high risks and is not suitable for all investors. Investors should carefully readCharacteristics and Risks of Standardized Options。
This content does not constitute any offer, solicitation, recommendation, opinion, or guarantee of 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 make such orders unexecutable. You may 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. Options trading carries extremely high risks and is not suitable for all investors. Investors should carefully readCharacteristics and Risks of Standardized Options。
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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