A new all-time high! The S&P 500 breaks through the 7,000-point mark for the first time!
Index Options
On January 29 Eastern Time, trading volume in the U.S. index options market rose, with a total of 6.69 million contracts traded. The put/call ratio increased to 1.01.

As the upcoming expiration date approaches,$S&P 500 Index (.SPX.US)$The distribution of options trading volume shows the following characteristics: peak put options volume at 6,800 points, peak call options volume at 7,000 points.

Single Stock Options
$Meta Platforms (META.US)$Shares closed up 10.40%, with 1.38 million options contracts traded, and the put/call volume ratio rose to 0.64. Meta's Q4 earnings report showed strong advertising revenue driving a 24% revenue increase to $59.9 billion, surpassing expectations. Morgan Stanley raised its price target to $825, and the company announced capital expenditures of $115-$135 billion for 2026 for AI infrastructure.

Looking at this Friday's expiring PUT orders, multiple gains have doubled.

Observing unusual large options orders, major traders showed significant optimism.

$Microsoft (MSFT.US)$Shares closed down 9.99%, with 2.3 million options contracts traded, and the put/call volume ratio dropped to 0.48. Microsoft’s Q2 earnings report showed cloud revenue exceeding $50 billion for the first time, but Azure's growth of 38% met expectations without exceeding them. Capital expenditures reached a record high of $37.5 billion, raising concerns among investors about AI.Return on investmentConcerns arose as the stock price plummeted 10%, marking the largest single-day drop since 2020.

Observe the PUT orders expiring this Friday, with multiple contracts surging over fivefold.

Observing unusual large options orders, major traders showed significant optimism.

Options Volume Leaderboard
Among the top 10 stocks by options trading volume,$Oracle (ORCL.US)$The put/call volume ratio reached a high of 1.54. Oracle launched a life sciences AI data platform to accelerate medical breakthroughs, but its stock fell over 5% to an 8-month low due to concerns about the software industry triggered by Microsoft's earnings report.

The highest put/call open interest ratio is$Advanced Micro Devices (AMD.US)$The ratio reached 1.13. AMD is set to release its earnings report after market close on February 3. Analysts expect revenue of $9.67 billion, a year-over-year increase of 26.25%, and EPS of $0.829, reflecting a 185.76% year-over-year growth. The company has made progress in competing with NVIDIA for GPU servers but faces pressure from Microsoft’s earnings results.

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)
$IREN Ltd (IREN.US)$Implied VolatilityImplied volatility surged the most, reaching 132.21%, up 5.27% from the previous trading day. IREN’s stock soared 14.6% on Tuesday due to positive news in the AI sector but retreated 6.9% on Thursday amid Bitcoin's decline and market risk aversion. The company has signed a multi-year cloud service contract with Microsoft and plans to release its earnings report on February 5.

$Applied Digital (APLD.US)$Implied volatility increased the most, reaching 122.07%, up 5.37% from the previous trading day. Applied Digital director HASTINGS CHUCK plans to sell 100,000 shares worth approximately $3.876 million. Meanwhile, NVIDIA invested $2 billion in partner CoreWeave to expand AI data center capacity, benefiting the company’s Delta Forge 1 project from growing AI infrastructure demand.

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)

This event is exclusively for invited HK users, click to learn moreDetailed event rules >>

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 assessoption pricesattractiveness, identify potential mispricings, 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
Comments
to post a comment
1
1
