[Publishing orders] The market is ups and downs, did your options make or lose?
Index Options
On February 23 Eastern Time, trading volume in the U.S. stock index options market declined, with a total of 5.68 million contracts traded. The put/call ratio fell to 1.05.

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 6,740 points and peak call option volume at 6,950 points.

Single Stock Options
$Johnson & Johnson (JNJ.US)$Closed up 1.38%, with 462,200 options contracts traded, and the put/call volume ratio dropped to 0.02. Johnson & Johnson and Blackstone Life Sciences reached their first joint financing agreement to jointly fund clinical trials for the leukemia drug bleximenib.

$Palantir (PLTR.US)$Closed down 3.43%, with 549,600 options contracts traded, and the put/call volume ratio rose to 1.08. Several analysts raised the price target to between $190 and $205 and reiterated a buy rating, but the stock fell 4% due to a broad selloff in the AI software sector and concerns over governance issues.

Observing unusual large options orders, major players are engaging in intense long-short battles.

Options Volume Leaderboard
Among the top 10 stocks by options trading volume, the highest put/call open interest ratio is$Palantir (PLTR.US)$, reaching 0.99.

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)
$ImmunityBio (IBRX.US)$The implied volatility is the highest, reaching 158.70%, an increase of 0.21% from the previous trading day. ImmunityBio's fourth-quarter earnings exceeded expectations, with revenue from the drug Anktiva growing 700% year-on-year.

$MARA Holdings (MARA.US)$The implied volatility increased the most, reaching 146.62%, up 29.60% from the previous trading day. MARA Holdings will release its earnings report after the market closes on February 26, with analysts expecting fourth-quarter revenue of $250.7 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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