Options Market Statistics | Strategy Down 9.15%, discloses first Bitcoin sale since 2022

by Monta HONG, CFA | Options Strategist

Index Options

EST June 2, U.S. index options volume edged higher, totaling 5.17M contracts. The put/call ratio went up to 1.01.

For $S&P 500 Index (.SPX.US)$ options expiring on next trading session, volume distribution: put wall at 7,580, call wall at 7,600 and gamma flip at 7,579. SPX closed at 7,609, above both the flip and the call wall, dealers are firmly in long-gamma territory and must buy dips to hedge.

Single Stocks Options

$Marvell Technology (MRVL.US)$ skyrocketed over 30% after $NVIDIA (NVDA.US)$ CEO Jensen Huang says it could be the next trillion-dollar company. The gamma exposure map reveals a call wall at $250, now 40 points below the $290 close, with the gamma flip at $167. Price sitting this far into long-gamma territory forces dealers to buy every dip mechanically, creating a structural bid. The $250 call wall becomes the key support: any pullback that holds above $250 is technically buyable.

$Nokia Oyj (NOK.US)$ closed up 3.69%, with 614.50K option contracts traded; the put/call ratio climbed to 0.30. Nokia launches $199 micro-chat phone. The market is overpaying for optionality and premium-selling setups are statistically well-positioned here; covered calls and credit spreads are the structurally favored plays over chasing the move outright.

$Strategy (MSTR.US)$ closed down 9.15%, with 617.10K option contracts traded; the put/call ratio climbed to 1.39. Strategy discloses first Bitcoin sale since 2022. Options are elevated but not extreme. Protection buyers are getting fair pricing while there is still room for IV to expand further on continued Bitcoin volatility. Puts remain the cleaner directional expression.

Top 10 Stocks With Highest Daily Options Volume

Among the top 10 stocks by options volume, $Strategy (MSTR.US)$ has the highest put/call trading volume ratio at 1.39.

The highest put/call open interest ratio is $Intel (INTC.US)$ at 1.05. Intel unveils new AI infrastructure products at Computex 2026, including rackscale AI infrastructure and Xeon 6+ processors. Despite the bullish product cycle news, puts outweigh calls in open interest, which suggests smart money is either hedging or awaiting execution proof.

Top 10 Stocks With Highest Implied Volatility

$T1 Energy (TE.US)$ has the highest implied volatility at 155.93%, down 1.37% from the previous session. T1 Energy's Chinese shareholder Trina Solar reduces stake by $190 million, ownership drops to 10%.

$NuScale Power (SMR.US)$ implied volatility rose the most, reaching 123.81%, up 14.64% from the previous session. NuScale Power appoints Stuart Harshaw and Dale Klein as new board members.

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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