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What's the Talk on US Stocks | A Quiet Week, but Are US Treasuries Poised for Turmoil?
Option Mover The Moo
joined discussion · Jul 23 19:07

Daily Options Outlook | Tesla drops 6.12% in premarket trading as earnings fall 18%, missing expectations; Micron Technology rises 3.37% premarket after Musk thanks the company for its fair allocation of memory chips

Today's Options Opportunity Outlook
On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in pre-market trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in pre-market trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating tensions in the Middle East have pushed oil prices up to $88, while expectations of further Federal Reserve rate hikes are intensifying, driving the 10-year U.S. Treasury yield close to its year-to-date high. Options market data shows that SPY’s put/call volume ratio dropped to 1.27 on the previous trading day,Implied volatility(IV) reached 16.68%.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in pre-market trading, Elon Musk thanked Micron Technology for providing reasonable allocation support during a period of tight memory chip supply. Options market data shows the stock’s put/call volume ratio declined to 1.03, with implied volatility reaching 108.62%.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
$Tesla (TSLA.US)$ Plunged 6.12% in pre-market trading; Tesla released its earnings after the market close yesterday, reporting a 26% revenue increase but an 18% drop in profit, which fell short of expectations. Options market data shows the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52.86%. The market anticipates modest price movement, though sentiment remains divided between bulls and bears.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
$NVIDIA (NVDA.US)$Down 0.25% in pre-market trading; NVIDIA’s Vera Rubin NVL72 platform has officially entered production and is being deployed in collaboration with multiple cloud service providers. Options market data shows the stock’s put/call volume ratio dropped to 0.52, with implied volatility at 42.01%.
Looking at options expiring on July 24, 2026, the highest volume was in the $215-strike call option, which rose by 180.36%.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
Review of yesterday's options market
Index Options
On July 22 (Eastern Time), U.S. equity index options market volume declined, with a total of 5.24 million contracts traded. The put/call volume ratio rose to 1.07.
In the upcoming expiration cycle,$S&P 500 Index (.SPX.US)$ Options volume distribution exhibited the following characteristics: peak put option volume occurred at the 7,500 strike, and peak call option volume also occurred at the 7,500 strike.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
Individual stock options
$Super Micro Computer (SMCI.US)$Rose 19.84%, with 746,700 options contracts traded and the put/call volume ratio rising to 0.32. Super Micro Computer released its fourth-quarter earnings guidance, significantly raising its gross margin forecast from 8.2%-8.4% to 15%-17%, with new orders exceeding $60 billion.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
$SpaceX (SPCX.US)$Fell 6.70%, with 745,000 options contracts traded and the put/call volume ratio declining to 0.73. SpaceX’s stock price has dropped nearly 50% since its IPO, and Morgan Stanley expects the company not to achieve profitability until 2035.Free Cash Flow。
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
Top Option Volume Rankings
Among the top 10 stocks by option volume,$Micron Technology (MU.US)$Recorded the highest put/call volume ratio at 1.03. Musk thanked Micron Technology for providing Tesla with a 'substantial' allocation of memory chips, securing reasonable supply terms amid tight supply and elevated prices in the market.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
The highest put/call open interest ratio belongs to$Micron Technology (MU.US)$, reaching 1.31.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
Implied Volatility Rankings (underlying market cap > $1 billion and option volume > 100,000 contracts)
$Bloom Energy (BE.US)$Had the highest implied volatility at 180.69%, down 1.95% from the previous trading day. JPMorgan raised Bloom Energy’s price target from $267 to $346, maintaining a Buy rating.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
$SpaceX (SPCX.US)$Experienced the largest increase in implied volatility, reaching 109.54%, up 6.08% from the previous trading day.
Today's Options Opportunity Outlook On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.23% in premarket trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.25% in premarket trading, the top 24 stocks in the S&P 500 now account for over 50% of the index’s total market capitalization, marking a record high in market concentration. The divergence between the index price and breadth has persisted for 52 trading days—matching levels seen during the dot-com bubble. Escalating Middle East tensions have pushed oil prices to $88, while rising expectations of Federal Reserve rate hikes are driving the 10-year Treasury yield toward its highest level this year. Options markets show SPY’s put/call volume ratio fell to 1.27 on the previous trading day,[Share Link: Implied volatility](IV) reached 16.68%. At the individual stock level,$Micron Technology (MU.US)$Up 3.37% in premarket trading, as Musk thanked Micron for providing fair allocation support for memory chips amid supply constraints. Options markets show the stock’s put/call volume ratio declined to 1.03, with implied volatility at 108.62%. $Tesla (TSLA.US)$ Plunging 6.12% in premarket trading, Tesla reported post-market earnings yesterday, with revenue surging 26% but earnings falling 18%, below expectations. Options markets show the stock’s put/call volume ratio stood at 0.78, with implied volatility at 52...
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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