Daily Options Outlook | Tesla down 1.21% in pre-market trading; simplified Model 3 launched in Hong Kong and Macau, with Cybercab unveiling imminent; Broadcom down 1.06% in pre-market trading, with earnings expected to be released after the bell tomorrow.

Today's Options Opportunity Outlook

On a macro level,$Invesco QQQ Trust (QQQ.US)$Down 0.91% in pre-market trading,$SPDR S&P 500 ETF (SPY.US)$Down 0.52% in pre-market trading, influenced by escalating US-Iran tensions and expectations of Federal Reserve rate hikes, JPMorgan's trading desk has downgraded its rating on US stocks to 'tactically cautious,' warning that the market faces sideways volatility and stock-specific divergence. Options market data shows the put/call volume ratio for QQQ rose to 1.23 in the previous trading session,implied volatility(IV) reached 19.63%.

At the individual stock level,$Medtronic (MDT.US)$Up 1.16% in pre-market trading, Medtronic is scheduled to release its Q1 FY2027 earnings report on September 1. Options market data shows the stock's Put/Call volume ratio rose to 0.84, with implied volatility reaching 28.95%.

Looking at options expiring on 2026-09-04, the call options with a strike price of $99 saw the highest trading volume, rising by 11.86%.

$Tesla (TSLA.US)$Down 1.21% in pre-market trading, Tesla launched a simplified version of the Model 3 in Hong Kong and Macau and is about to hold a Cybercab launch event. Options market data shows the stock's Put/Call volume ratio rose to 0.73, with implied volatility reaching 45.05%.

Looking at options expiring on 2026-09-02, the call options with a strike price of $370 saw the highest trading volume, surging by 683.02%.

$Broadcom (AVGO.US)$ Down 1.06% in pre-market trading, Broadcom is set to release its earnings after the market close tomorrow night. The market consensus expects Broadcom to achieve revenue of $29.435 billion in Q3 FY2026, an increase of 84.52% year-over-year. Options market data shows the stock's Put/Call volume ratio dropped to 0.62, with implied volatility reaching 50.92%.

Options Market Recap for Yesterday

Index Options

On August 31 (Eastern Time), trading volume in the US equity index options market declined, with a total of 5.41 million contracts traded. The Put/Call volume ratio fell to 0.92.

In the upcoming expiration cycle,$S&P 500 Index (.SPX.US)$ The distribution of options trading volume showed the following characteristics: peak put option volume at the 7,650 strike price, and peak call option volume at the 7,700 strike price.

Individual stock options

$Tesla (TSLA.US)$Closed up 5.51%, with 4.4268 million option contracts traded; the Put/Call volume ratio rose to 0.73. Tesla launched a simplified version of the Model 3 in Hong Kong and Macau at prices lower than those in mainland China, driving the stock price up by 5%.

$PG&E Corp (PCG.US)$Closed down 20.06%, with 460,700 option contracts traded; the Put/Call volume ratio rose to 0.46. The California Legislature rejected a proposal to protect utilities from wildfire-related lawsuits, causing PG&E's stock price to plunge by 20%.

Top Option Volume Rankings

Among the top 10 stocks by option volume,$Tesla (TSLA.US)$had the highest Put/Call volume ratio, reaching 0.73.

The highest put/call open interest ratio belongs to$Micron Technology (MU.US)$reaching 1.10. The Micron Taiwan union has threatened to strike over a bonus dispute, while analysts maintain a bullish stance, stating that memory stocks are severely undervalued.

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

$MARA Holdings (MARA.US)$Implied volatility hit a high of 82.76%, down 0.84% from the previous trading session. Bernstein maintains its Hold rating and $17 price target for MARA Holdings.

$SanDisk (SNDK.US)$Implied volatility saw the largest increase, reaching 71.41%, up 3.31% from the previous trading session. SanDisk was added to the MSCI USA Standard Index, and Mizuho reaffirmed its Buy 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 pricesto 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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