Options Market Statistics | Nokia Pops 9% but Smart Money Sells Calls, ORCL Volatility Peaks, MU Tops $1,000

by Monta HONG, CFA | moomoo Options Strategist

Index Options

EST June 1, U.S. index options volume declined, totaling 5.14M contracts. The put/call ratio went up to 0.99. A near 1:1 put/call read flags rising hedging demand on index.

For $S&P 500 Index (.SPX.US)$ options expiring on next trading session, gamma exposure distribution: put wall at 7,550, call wall at 7,615 and gamma flip at 7,585. SPX sits in long-gamma territory just above the flip, expect dealer hedging to pin the tape into the 7,585–7,615 corridor.

Single Stocks Options

Despite $Nokia Oyj (NOK.US)$ sugred 9%. the unusual activity board is dominated by calls sold on the bid — Jun 18 $14C ($1.53M), Aug 21 and $18C ($1.19M sweep).

IV Percentile 97% which means options pricing is in the top 3% of the past year. the market is paying up for optionality; premium-selling setups (covered calls, credit spreads) are statistically attractive, while outright call buyers face a steep vol headwind.

$Oracle (ORCL.US)$ closed up 9.91%, with 780.30K option contracts traded; the put/call ratio climbed to 0.30. Oracle partners with OpenAI on Michigan data center construction. Heavy call skew (P/C 0.30) plus IV Rank 100 means longs are crowded and premium is maxed out. Buying calls here is paying peak vol and expensive.

$Meta Platforms (META.US)$ closed down 5.07%, with 1.13M option contracts traded; the put/call ratio climbed to 0.39. RBC Capital maintains Meta Platforms buy rating with $810 target price while shares drop on AI capex concerns. With IV Rank only 53 (mid-range) and HV collapsing -25.69%, long-dated call spreads offer cheap convexity into the rebound thesis without paying event-vol premium.

Top 10 Stocks With Highest Daily Options Volume

Among the top 10 stocks by options volume, $Micron Technology (MU.US)$ has the highest put/call trading volume ratio at 1.07. Micron stock breaks $1,000 for the first time, reaching $1.17 trillion market cap to become the world's 12th largest company.

The highest put/call open interest ratio is $Micron Technology (MU.US)$ at 1.40.

MU is the only name in the top 10 where puts outpace calls — a defensive tell as the stock rally; trim covered-call strikes tighter or roll long stock into a collar to lock in gains.

Top 10 Stocks With Highest Implied Volatility

$HYPERLIQUID STRATEGIES INC (PURR.US)$ has the highest implied volatility at 172.20%, up 18.02% from the previous session. Hyperliquid Strategies Inc surged nearly 20% to $12 in pre-market trading, driven by HYPE hitting all-time highs.

$AMC Entertainment (AMC.US)$ implied volatility rose the most, reaching 156.72%, up 47.77% from the previous session. AMC Entertainment reports 25.5 million May attendance, highest since 2019.

Disclaimer: Options trading entails significant risk and is not appropriate for all customers. It is important that investors read the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Opening new options positions close to or on their expiration date comes with substantial risk of losses for reasons that include potential volatility of the underlying security and limited time to expiration. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period. Certain complex option strategies carry additional risk, including potential losses that may exceed the original investment amount. If applicable, supporting documentation for any claims will be furnished upon request.

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