Index Options
On February 27 Eastern Time, trading volume in the U.S. stock index options market declined with a total of 6.08 million contracts traded. The put/call ratio increased to 0.99.

Single Stock Options
$Netflix (NFLX.US)$Closing up 13.77%, with 2.9422 million options contracts traded, the put/call volume ratio dropped to 0.29. Netflix withdrew from the Warner Bros acquisition battle and received a $2.8 billion breakup fee.

Observing the call orders expiring this Friday, the highest increase reached 899 times.

Observing unusual large options trades, major investors are increasingly bearish.

$CoreWeave (CRWV.US)$Closing down 18.51%, with 699,800 options contracts traded, the put/call volume ratio dropped to 0.91. CoreWeave's Q4 revenue of $1.57 billion exceeded expectations, but losses widened to $284 million. Capital expenditure for 2026 is projected at $30-35 billion.

Observing unusual large options trades, there is intense bullish and bearish competition.

Options Volume Leaderboard
Among the top 10 stocks by options trading volume,$Microsoft (MSFT.US)$The put/call volume ratio was the highest, reaching 1.07. Microsoft-backed OpenAI is seeking an additional $10 billion in funding, with its valuation set to reach $850 billion.

The highest put/call open interest ratio is$Palantir (PLTR.US)$Reaching 1.04. UBS and Rosenblatt have both upgraded Palantir’s rating to Buy, with target prices of $180 and $150 respectively.

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)
$Ondas (ONDS.US)$Implied volatility was the highest, reaching 122.11%, a decrease of 7.02% from the previous trading day. Ondas saw active options trading, with three-day volume increasing from 136,000 contracts to 278,000, and implied volatility hitting 131.34%, leading the market.

$NEBIUS (NBIS.US)$Implied volatility increased the most, reaching 99.75%, a rise of 8.96% from the previous trading day. NEBIUS secured multi-year AI cloud infrastructure contracts worth approximately $22 billion from Meta and Microsoft.

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。
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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