BTC surpasses $75,000! Has the upward channel been fully opened?
Index Options
On January 14 EST, trading volume in the U.S. index options market rose, with a total of 6.48 million contracts traded. The put/call ratio fell to 0.93.

As the upcoming expiration date approaches,$S&P 500 Index (.SPX.US)$ The distribution of options trading volume showed the following characteristics: peak put options volume at 6,975 points, peak call options volume at 6,850 points.

Single Stock Options
$Strategy (MSTR.US)$Closed up 3.66%, with 833,800 option contracts traded, and the put/call volume ratio dropped to 0.58. Strategy company announced the purchase of 13,627 Bitcoins for $1.25 billion, bringing its total Bitcoin holdings to 687,410. Meanwhile, the company's directors bought shares for the first time in three years. The price of Bitcoin breaking through $97,000 pushed up related stocks.

Unusual large block trades observed in options indicate fierce bullish and bearish battles.

$Meta Platforms (META.US)$Closed down 2.47%, with 640,500 option contracts traded, and the put/call volume ratio rose to 1.14. Meta laid off approximately 1,500 employees from its metaverse division, Reality Labs, accounting for 10% of the department’s workforce, as it shifts investment focus from the metaverse to wearable devices like AI glasses.

Observing the put options expiring this Friday, multiple contracts doubled in value.

Observing this Friday's expiring put orders, the bullish or bearish direction is not significant.

Options Volume Leaderboard
The highest put/call open interest ratio is$Advanced Micro Devices (AMD.US)$Reaching 0.99. TCS and AMD announced a strategic partnership to promote AI scalability. Trump imposed a 25% tariff on advanced computing chips such as AMD MI325X. Analysts are optimistic that AI demand growth will enhance CPU pricing power.

Top 10 Most Actively Traded US Stock Options

Top 10 US Stock ETF Options by Trading Volume

Implied volatility leaderboard (underlying market cap > $10 billion and option volume > 100,000)
$Critical Metals (CRML.US)$Implied volatility was the highest, reaching 169.38%, an increase of 17.58% from the previous trading day. Critical Metals released the first batch of test results from their 2025 drilling plan showing stable rare earth grades at the Tanbreez rare earth project in Greenland, which also contains strategic metals like gallium and hafnium. Meanwhile, European Lithium, a related party, plans to sell 5 million shares worth approximately $73.8 million.

Top 10 most volatile US stock options (underlying market cap > $10 billion and option trading volume > 100,000 contracts)

Top 10 US Stock ETFs by Implied Volatility (Criteria: Market Cap > $100 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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