Daily Options Outlook | US-Iran ceasefire; FOMC meeting minutes to be released tonight; Optical communication and storage sectors showing upward momentum

I. Today's Options Opportunities Outlook

On the macro level, Trump announced a two-week pause in military actions against Iran, with both sides set to negotiate a long-term peace agreement.Iran has accepted Pakistan’s mediation proposal. The US received a ten-point proposal from Iran, and talks are scheduled to begin on April 10 in Islamabad. If an agreement is reached, the Strait of Hormuz may be fully opened. As of this writing, crude oil futures have dropped over 14% to below $100.Key Focus Tonight:

1. At 8:00 AM EDT (8:00 PM Beijing Time) on the 8th, the US Department of Defense will hold a press conference regarding its 'Epic Fury' military operation against Iran, which could impact further expectations for the Middle East situation.

2. At 00:35 AM tonight, 2027 FOMC voter and Chicago Fed President Goolsbee will deliver a speech on monetary policy.

Individual Stock Level， $Intel (INTC.US)$ Rose 4.19% last night, up 5.88% in pre-market trading today. RecentlyIntel announced its participation in the Terafab mega-factory project led by Musk, collaborating with Tesla, SpaceX, and xAI to reconstruct semiconductor manufacturing technology, officially entering the world's most talked-about computing power supply chain ecosystem. The current Put/Call ratio is 0.52, reflecting bullish market expectations.

Samsung Electronics' Q1 operating profit reached 57.2 trillion KRW, a year-on-year increase of 755%, far exceeding market expectations, drivingthe memory sectorto rise during after-hours trading. $Micron Technology (MU.US)$ It was up more than 10% at one point in today's pre-market trading; the previous day’s Put/Call trading ratio was 0.51, indicating some degree of bullish sentiment in the market; the current IV is 74.01%, with an IV percentile of 80%, which is at a relatively high historical level.

AdditionallyOptical CommunicationConcept stocks remain active, $Lumentum (LITE.US)$ Up over 7% in pre-market trading, $Coherent (COHR.US)$ Up 8.75% in pre-market trading. Yesterday's options activity on LITE reflected market expectations for continued volatility in optical communications, with an IV of 114.36%, placing it at the 96th percentile of IV, which is historically high.

II. Review of yesterday's options market

index options

On April 6 Eastern Time, trading volume in the U.S. index options market rose, totaling 6.4 million contracts traded. The put/call ratio fell to 0.99.

As the upcoming expiration date approaches, $S&P 500 Index (.SPX.US)$ The distribution of options trading volume shows the following characteristics: peak put option volume at 6,655 points, and peak call option volume at 6,750 points.

Single-stock options

$Hertz Global (HTZ.US)$ Closed up 10.73%, with 492,300 options contracts traded, and the put/call ratio rose to 0.76. Hertz shares surged as used car prices hit their highest level since summer 2023.

$Apple (AAPL.US)$ Closed down 2.07%, with 1,189,800 options contracts traded, and the put/call ratio dropped to 0.58. Apple’s foldable iPhone faces potential delays due to technical issues during the engineering testing phase.

Options volume leaderboard

Among the top 10 stocks by options volume, PSKY has the highest put/call volume ratio, reaching 1.06. $Paramount Skydance (PSKY.US)$ Secures $24 billion equity commitment from Middle Eastern sovereign wealth funds to support the acquisition of Warner Bros. Discovery.

The highest put/call open interest ratio is HTZ, reaching 1.63.

Implied volatility leaderboard (underlying market cap > $1 billion and options volume > 100,000)

$Hertz Global (HTZ.US)$ HTZ has the highest implied volatility, reaching 147.32%, increasing by 29.77% compared to the previous trading day. HTZ's implied volatility increased the most, reaching 147.32%, growing by 29.77% compared to the previous trading day.

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Risk WarningAn 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 various factors, including the current price of the underlying asset, the strike price, the time to expiration, and implied volatility. Implied volatility reflects the market's expectation of the option’s volatility over a certain period in the future. It is derived inversely from the Black-Scholes (BS) pricing model and is generally considered an indicator of market sentiment. When investors expect greater volatility, they may be more willing to pay higher prices for options to help hedge risks, leading to higher implied volatility. Traders and investors use implied volatility to evaluate.Option priceattractiveness, identify potential mispricings, and manage risk exposure.

DisclaimerThis 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。

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