Daily Options Outlook | Amazon rises 11.76% in pre-market trading; AWS revenue hits $42.2 billion, up 37% year-over-year, marking its fastest growth rate in five years

Today's Options Opportunity Outlook

On a macro level,$Invesco QQQ Trust (QQQ.US)$Up 1.38% in pre-market trading,$SPDR S&P 500 ETF (SPY.US)$Up 0.61% in pre-market trading; Microsoft Azure cloud revenue surged 43%, exceeding $100 billion for the full year, driving a strong rebound in the AI infrastructure sector. As a result, memory stocks such as Micron Technology and SK Hynix, along with AI data center operators like CoreWeave, all posted significant gains, reinvigorating market confidence in the AI investment cycle. Options market data shows that QQQ’s put/call volume ratio rose to 1.16 on the previous trading day,implied volatility(IV) reached 27.57%.

At the individual stock level,$Amazon (AMZN.US)$Up 11.76% in pre-market trading. Amazon reported second-quarter earnings on July 30, with AWS revenue at $42.2 billion, up 37% year-over-year—the fastest growth rate in five years. Options market data shows the stock's put/call volume ratio has dropped to 0.54, with implied volatility at 49.76%.

Looking at options expiring on July 31, 2026, the highest volume was in the $250-strike call option, which rose by 270.46%.

$Microsoft (MSFT.US)$Down 0.68% in pre-market trading. Microsoft reported fourth-quarter earnings, with Azure cloud services growing 43%, exceeding expectations. Options market data shows the stock's put/call volume ratio has dropped to 0.4, with implied volatility at 34.66%.

Looking at options expiring on July 31, 2026, the highest volume was in the $460-strike call option, which rose by 453.61%.

Review of yesterday's options market

Index Options

On July 30 (Eastern Time), U.S. equity index options market volume increased, with a total of 6.76 million contracts traded. The put/call volume ratio declined to 0.99.

In the upcoming expiration cycle,$S&P 500 Index (.SPX.US)$ Options volume distribution showed the following characteristics: peak put volume occurred at the 7,450 strike, while peak call volume was at the 7,500 strike.

Individual stock options

$IREN Ltd (IREN.US)$Closed up 30.54%, with 569,400 options contracts traded and the put/call volume ratio rising to 0.89. IREN shares surged 27%, driven by Microsoft’s strong earnings and a rebound in AI infrastructure stocks.

$Meta Platforms (META.US)$Closed down 7.95%, with 1,027,600 options contracts traded and the put/call volume ratio rising to 0.58. Meta’s second-quarter earnings missed expectations, as surging AI infrastructure spending led toFree Cash Flowa plunge of 91% to $784 million.

Top Option Volume Rankings

Among the top 10 stocks by option volume,$Apple (AAPL.US)$had the highest put/call volume ratio at 0.90. Apple’s third fiscal quarter results beat expectations, but its fourth-quarter guidance fell short of Wall Street forecasts due to supply chain constraints and rising memory costs.

The highest put/call open interest ratio belongs to$Micron Technology (MU.US)$, reaching 1.22. Micron Technology's stock surged 18%, benefiting from Amazon's increased capital expenditure guidance to $220 billion and strong expectations for memory demand.

Implied Volatility Rankings (underlying market cap > $1 billion and option volume > 100,000 contracts)

$Fermi (FRMI.US)$Implied volatility was the highest and rose the most, reaching 159.56%, up 4.31% from the previous trading day. Mizuho Securities maintained a Buy rating on Fermi but sharply lowered its price target from $27 to $11.

$Bitdeer Technologies Group (BTDR.US)$Implied volatility posted the second-largest increase, reaching 135.54%, up 2.92% from the previous trading day. KBW analysts lowered Bitdeer Technologies Group's price target from $17 to $14 while maintaining a Hold rating.

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 assess attractiveness, identify potential mispricings, 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"。

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