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AI infrastructure is heating up! Hardware stocks rally across the board
Option Mover The Moo
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Daily Options Opportunity Preview | ARM surges over 10% in pre-market; NVIDIA opens a new battlefield in AI PCs; Micron Technology breaks through the $1,000 mark; Dell continues to strengthen

Today's Options Opportunity Preview
From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly.
The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
$Micron Technology (MU.US)$ The stock broke above the $1,000 mark in pre-market trading as the market continues pricing in the 'memory supercycle.' The immediate catalyst is sustained strong demand for AI servers, which continues to boost the outlook for HBM and high-end memory products, significantly strengthening memory makers’ pricing power. Micron Technology, as the most direct pure-play HBM and memory exposure on U.S. exchanges, remains a key entry point for capital tracking bottlenecks in AI hardware.
On the options side, after MU broke through the round-number psychological level, today’s focus is whether the $1,000 area can shift from resistance to support. If trading volume continues expanding post-open and the stock consolidates narrowly near highs without a sharp pullback, it suggests investors are still accepting trend-based valuations despite elevated levels. However, if it trades back below $1,000 on high volume, the risk-reward for chasing calls deteriorates, potentially increasing demand for puts or spread strategies.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
$Dell Technologies (DELL.US)$ Following last Friday’s sharp rally, the stock continued strengthening in pre-market trade. The immediate catalyst was its latest earnings report, which significantly beat expectations, driven by explosive growth in AI server orders. The company also raised its full-year revenue and AI-related business guidance, prompting the market to reprice Dell’s role within the AI server hardware supply chain. With Dell’s stock having already rallied sharply in the short term, today’s options opportunities lean more toward post-event momentum carryover. Watch closely whether opening volume can sustain last Friday’s jump.
Options Market Recap
Index Options
On May 29 Eastern Time, U.S. equity index options saw heightened activity, with 6.67 million contracts traded. The put/call volume ratio declined to 0.84.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
Single Stock Options
$Super Micro Computer (SMCI.US)$ Super Micro Computer rose 11.60%, with 923,800 option contracts traded, and the put/call volume ratio increased to 0.22. The stock surged 11.6% driven by strong AI server earnings from Dell.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
$Intel (INTC.US)$ Intel fell 5.14%, with 847,600 option contracts traded, and the put/call volume ratio rose to 0.60. Intel and 3DGS will invest $3.3 billion to build a substrate manufacturing facility in Odisha, India.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
Top list of options trading volume
Among the top 10 stocks by options trading volume, $Micron Technology (MU.US)$ Micron Technology had the highest put/call volume ratio at 0.91. Its market capitalization surpassed $1 trillion, marking a new milestone for the memory chip industry.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
The highest put/call open interest ratio is$Micron Technology (MU.US)$, reaching 1.31.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
Implied volatility rankings (underlying market cap > $10 billion and options trading volume > 100,000)
$Sellas Life Sciences (SLS.US)$Implied volatilityreached a high of 194.29%, up 2.86% from the previous trading day. The CEO of Sellas Life Sciences emphasized the potential of GPS therapy for elderly AML patients, and the stock posted its fifth consecutive weekly gain.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
$AST SpaceMobile (ASTS.US)$ Implied volatility rose the most, reaching 124.32%, up 4.79% from the previous trading day. Deutsche Bank downgraded AST SpaceMobile from Buy to Hold and lowered its price target from $117 to $106, while a Blue Origin rocket explosion caused the stock to plummet 18.5%.
Today's Options Opportunity Preview From today's US pre-market activity, the AI hardware chain remains the market’s most concentrated trading theme. $Arm Holdings (ARM.US)$ The stock price rose more than 10% in pre-market trading. The immediate catalyst came from $NVIDIA (NVDA.US)$ NVIDIA's move into the AI PC market, which the market interprets as a signal of increasing penetration of Arm architecture in PCs and local AI devices. NVIDIA has historically been priced primarily as a leader in data center GPUs, but if its AI computing capabilities further extend down into PC devices, Arm—as the underlying architecture licensor—stands to benefit most directly. The market had already begun revaluing Arm’s role in server CPUs and AI infrastructure; NVIDIA’s entry into the PC market now adds a new application scenario to the 'Arm ecosystem expansion.' On the options front, after ARM’s significant pre-market gap-up, near-term call sentiment is likely to heat up noticeably. However, such gap-up moves often lead to a subsequent drop in implied volatility after the open. If the stock can hold its pre-market highs and call volume continues expanding, short-term momentum traders may push prices higher. But if the stock gaps up at the open only to retreat afterward, traders should beware of being squeezed by both falling implied volatility and price pullbacks when chasing calls. $Micron Technology (MU.US)$ The stock price broke above the $1,000 mark in pre-market trading, as the market continues pricing in the 'memory supercycle.' The immediate catalyst lies in AI server demand...
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 on a specific date or before that date. The price of an option is influenced by various 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 option's volatility over a certain period in the future. It is derived inversely from the BS pricing model of options and is generally considered an indicator of market sentiment. When investors anticipate greater volatility, they may be more willing to pay higher prices for options to hedge risks, resulting in higher implied volatility.
Traders and investors use implied volatility to assessOption priceto enhance attractiveness, identify potential mispricing, and manage risk exposure.
Disclaimer
This content does not constitute any offer, solicitation, recommendation, opinion, or guarantee of 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 make such orders unexecutable. You may 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. Options trading carries extremely high risks and is not suitable for all investors. Investors should carefully readCharacteristics 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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