Options Plaza: SK Hynix options now listed! How to use options to capture opportunities?
Today's Options Market Outlook
Semiconductor stocks rally collectively in pre-market, $Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$ SOXL rose 3.83% in pre-market trading after a sharp drop, with the options market showing a put/call volume ratio of 2.06, an open interest ratio of 1.35, implied volatility (IV) at 192.79%, and IV percentile at 100%, indicating short-term market positioning following yesterday's plunge.

The memory/storage sector rebounded in pre-market trading, $Micron Technology (MU.US)$ up 3.57%, $SanDisk (SNDK.US)$ up 3.32%, $Western Digital (WDC.US)$ up 2.05%. Micron Technology will release earnings tonight. The options market shows a put/call volume ratio of 1.01, implied volatility (IV) at 113.80%, and IV percentile at 98%. Despite yesterday’s steep decline, bearish option positioning is primarily focused on long-term hedging.

$NEBIUS (NBIS.US)$ Up 2.54% in pre-market trading, with Goldman Sachs maintaining a Buy rating on NBIS and raising its price target to $267. The options market shows a put/call volume ratio of 1.31, implied volatility (IV) at 123.24%, and IV percentile at 100%, suggesting the market anticipates significant price swings.

Review of yesterday's options market
Index Options
On June 23 Eastern Time, U.S. equity index options saw elevated volume, with a total of 6.15 million contracts traded. The put/call volume ratio declined to 1.06.
As the upcoming expiration date approaches,$S&P 500 Index (.SPX.US)$ Options volume distribution showed the following characteristics: peak put volume at the 7,370 strike and peak call volume at the 7,465 strike.

Single Stock Options
$Microsoft (MSFT.US)$Closed up 1.80%, with 508,500 options contracts traded and the put/call volume ratio dropping to 0.36. Microsoft has fallen nearly 20% since June 1, prompting institutional investors to establish $160 million in call option positions betting on a rebound.

$Micron Technology (MU.US)$Closed down 13.18%, with 633,400 options contracts traded and the put/call volume ratio rising to 1.01. Micron Technology’s stock plunged 13%, yet Bank of America raised its price target from $950 to $1,500 and signed a multi-year storage agreement with Anthropic.

Top list of options trading volume
Among the top 10 stocks by options trading volume,$Micron Technology (MU.US)$The put/call volume ratio was the highest, reaching 1.01.


Implied volatility rankings (underlying market cap > $10 billion and options trading volume > 100,000)
$AMC Entertainment (AMC.US)$Implied volatilityThe highest, reaching 128.66%, down 0.81% from the previous trading day. AMC Entertainment announced the issuance of 95.25 million shares of common stock to institutional investors, raising approximately $200 million.

$SanDisk (SNDK.US)$Implied volatility rose the most, reaching 118.02%, up 3.97% from the previous trading day. SanDisk's stock plunged nearly 14% on Tuesday, impacted by a sell-off in South Korean tech stocks and concerns over AI spending.

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。
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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