Another earnings miss? AMD plunges over 17% post-results!
Index Options
On February 4 Eastern Time, trading volume in the US stock index options market declined, with a total of 6.1 million contracts traded. The put/call ratio fell to 1.02.

As the upcoming expiration date approaches,$S&P 500 Index (.SPX.US)$ The distribution of options trading volume shows the following: peak put volume at 6,755 points and peak call volume at 6,980 points.

Single Stock Options
$Super Micro Computer (SMCI.US)$Closed up 13.78%, with 597,100 options contracts traded, and the put/call volume ratio dropped to 0.38. Super Micro Computer reported better-than-expected second-quarter earnings, driven by a 123% year-over-year revenue increase to $12.7 billion due to strong AI server demand.

Observing unusual large options orders, the battle between bulls and bears is intense, with bulls currently prevailing.

$Advanced Micro Devices (AMD.US)$Closed down 17.31%, with 1,454,900 options contracts traded, and the put/call volume ratio rose to 0.77. AMD hit a record $10.3 billion in fourth-quarter revenue but disappointed investors with its first-quarter guidance, causing the stock price to plummet by 17%.

Observe the PUT orders expiring this Friday; several have surged more than 14 times.

Observing large abnormal options trades, major players are predominantly bearish.

Options Volume Leaderboard
Among the top 10 stocks by options trading volume,$Palantir (PLTR.US)$The put/call volume ratio reached its highest at 0.87. Palantir's fourth-quarter revenue grew 70% year-over-year to $1.41 billion, surpassing expectations, but the stock fell 12% due to valuation concerns.

The highest put/call open interest ratio is$Micron Technology (MU.US)$The ratio reached 1.23. Micron Technology fell 9% amid a semiconductor sector sell-off triggered by AMD's disappointing guidance.

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 volatility was the highest at 142.12%, increasing by 2.36% from the previous trading day. IREN signed a $9.7 billion cloud services agreement with Microsoft and faced a downgrade to 'Sell' by JPMorgan.

$Applied Digital (APLD.US)$Implied volatility increased the most, reaching 125.65%, up 12.16% from the previous trading day. Applied Digital's board member sold $1.8 million worth of shares, causing the stock price to drop by 14%.

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。
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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