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NVIDIA posts five consecutive gains—signaling a structural market trend in semiconductor stocks?
Option Mover The Moo
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Daily Options Outlook | Taiwan Semiconductor dips in pre-market trading as markets worry capital spending may pressure margins; Google extends gains after Buffett endorsement

Today's Options Opportunity Preview
At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, Implied volatility(IV) reached 25.79%.
At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks.
Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire’s decision to increase its stake in Alphabet was personally driven by him, and he believes Google has a relatively high probability of success in the AI race. Such comments reinforced market confidence that Google’s AI investments can translate into revenue from search, cloud services, and enterprise offerings. However, this factor appears supplementary—the primary driver of the current rally remains sector rotation.
Options market data shows the stock’s put/call volume ratio dropped to 0.27, with implied volatility at 41.10%. Looking at options expiring on July 17, 2026, the most actively traded contract was the $370-strike call option, which surged 254.69%.
Today's Options Opportunity Preview At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, [Share Link: Implied volatility](IV) reached 25.79%. At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks. Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire has increased...
$Taiwan Semiconductor (TSM.US)$ Down over 4% in pre-market trading, Taiwan Semiconductor reported second-quarter net profit of approximately $22 billion, up 77% year-over-year—significantly exceeding market expectations. The company guided third-quarter revenue between $44.6 billion and $45.8 billion and raised its full-year revenue growth outlook. Fundamentals have not weakened.
The share price decline was mainly driven by capital expenditure pressures. Taiwan Semiconductor raised its 2026 capex guidance to $60–64 billion and announced an additional $100 billion investment in the U.S., bringing its total U.S. investment commitment to $265 billion. U.S. wafer fab costs are typically higher than those in Taiwan, and the market is concerned that overseas expansion, ramp-up of 2-nanometer production, and investments in advanced packaging could weigh on future free cash flow and margins.
Today's Options Opportunity Preview At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, [Share Link: Implied volatility](IV) reached 25.79%. At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks. Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire has increased...
Review of yesterday's options market
Index Options
On July 15 (Eastern Time), U.S. equity index options saw increased trading activity, with a total of 6.23 million contracts traded. The put/call volume ratio rose to 1.03.
On the upcoming expiration date, $S&P 500 Index (.SPX.US)$ Options volume distribution exhibited the following characteristics: peak put volume occurred at the 7,570 strike, while peak call volume was at the 7,600 strike.
Today's Options Opportunity Preview At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, [Share Link: Implied volatility](IV) reached 25.79%. At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks. Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire has increased...
Individual stock options
$Apple (AAPL.US)$ closed up 4.01%, with 2.5878 million options contracts traded, and its put/call volume ratio dropped to 0.56. Apple’s AI tools received approval from the Chinese government, and it will launch Apple Intelligence services in China in partnership with Alibaba and Baidu.
Today's Options Opportunity Preview At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, [Share Link: Implied volatility](IV) reached 25.79%. At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks. Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire has increased...
$Micron Technology (MU.US)$ closed down 8.02%, with 1.1094 million options contracts traded, and its put/call volume ratio declined to 0.81. Micron Technology’s stock plunged 8%, impacted by Buffett’s warning about an AI speculation bubble and customer resistance to DRAM price hikes.
Today's Options Opportunity Preview At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, [Share Link: Implied volatility](IV) reached 25.79%. At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks. Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire has increased...
Top Option Volume Rankings
Among the top 10 stocks by options volume, $SpaceX (SPCX.US)$ recorded the highest put/call volume ratio at 1.16. SpaceX shares fell below the IPO price of $135 for the first time, down 33% since listing a month ago.
Today's Options Opportunity Preview At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, [Share Link: Implied volatility](IV) reached 25.79%. At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks. Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire has increased...
The highest put/call open interest ratio belongs to$Micron Technology (MU.US)$, reaching 1.29.
Today's Options Opportunity Preview At the macro level, $Invesco QQQ Trust (QQQ.US)$ fell 0.26% in pre-market trading, $SPDR S&P 500 ETF (SPY.US)$ dropped 0.04% in pre-market trading. US June PPI declined more than expected, and dovish comments from Fed officials drove the three major US indices higher. Apple hit a record high after Apple Intelligence received approval in China, and ASML's strong earnings eased concerns about AI chip supply constraints. However, investors began rotating out of AI infrastructure stocks into large-cap tech platform stocks. The options market showed that QQQ’s put/call volume ratio declined to 0.94 on the previous trading day, [Share Link: Implied volatility](IV) reached 25.79%. At the individual stock level,$Alphabet-A (GOOGL.US)$Up 2.09% in pre-market trading, Google continued its strength, largely extending the prior session's rotation. On July 15, Alphabet rose about 3.6%, while Apple, Microsoft, Amazon, and Meta all generally gained more than 2%. Meanwhile, the semiconductor index continued to retreat. Reuters noted that capital is flowing back into the Mag 7 and large bank stocks, and softer-than-expected U.S. inflation data has reduced the likelihood of near-term rate hikes, supporting longer-duration mega-cap tech stocks. Google also received some sentiment-driven catalysts. Buffett recently stated that Berkshire has increased...
Implied Volatility Rankings (underlying market cap > $1 billion and option volume > 100,000 contracts)
$Lucid Group (LCID.US)$Implied volatility peaked at 248.10%, down 13.98% from the previous trading day. Lucid Group denied bankruptcy rumors, and its stock rebounded more than 20%. The CEO stated the company has sufficient funds to operate through next year.
$NEBIUS (NBIS.US)$Implied volatility rose the most, reaching 140.57%, up 1.76% from the previous trading day. NEBIUS signed a $1 billion-plus AI infrastructure agreement with Reflection AI and introduced a capital-light partnership model.
Risk Warning
An option is a contract that gives the holder the right—but not the obligation—to buy or sell an underlying asset at a fixed price on or before a specific date. The price of an option is influenced by multiple 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 future price fluctuations over the life of an option. It is derived by back-solving from the Black-Scholes option pricing model and is generally viewed as an indicator of market sentiment. When investors anticipate greater volatility, they may be willing to pay higher prices for options to hedge risk, leading to elevated 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 an offer, solicitation, recommendation, advice, opinion, or any form of guarantee regarding any securities, financial products, or instruments. The risk of loss in trading options can be substantial. In certain circumstances, your losses may exceed the initial margin deposit you made. Even if you place contingent orders, such as 'stop-loss' or 'limit' orders, there is no assurance these will prevent losses. Market conditions may render such orders unexecutable. You may be required to deposit additional margin funds on very short notice. If you fail to meet such a margin call within the specified timeframe, your open positions may be liquidated. Nevertheless, you remain liable for any resulting deficit in your account. Therefore, you should thoroughly research and understand options before trading and carefully consider whether such transactions are suitable for you based on your financial condition and investment objectives. If you trade options, you should be familiar with the procedures for exercising options and handling expirations, as well as your rights and obligations upon exercise or expiration. Options trading involves substantial risk and is not appropriate for all investors. Investors should carefully read"Characteristics 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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