Option Movers｜Strategy Sees 65% Call Option; SLV's Volume Surges 184%; Tesla Shows Highest Bullish Sentiment

The S&P 500 ended Tuesday(Dec 9)'s session slightly lower as investors anticipated that the Federal Reserve would take a hawkish tone even if it cuts interest rates this week, while JPMorgan was the heaviest drag on the benchmark index after the biggest U.S. bank warned of hefty expenses for 2026.

Regarding the options market, a total volume of 41,600,150 contracts was traded on Tuesday.

Top 10 Option Volumes

Source: Tiger Trade App

$Strategy(MSTR)$ shares popped 3% on Tuesday amid Bitcoin‘s ongoing volatility. Bitcoin is surging as traders position ahead of the Federal Reserve's final interest rate decision of 2025, hoping to achieve some relief after a rough month in which Bitcoin gave up nearly 30% from its October peak.

A total number of 548.74K options related to $Strategy(MSTR)$ was traded on Tuesday, up 71% from the previous trading day, of which call options accounted for 65%. Particularly high volume was seen for the $200 strike call option expiring Dec. 12, with 38,714 contracts trading. $MSTR 20251212 200.0 CALL$

Unusual Options Activity

Source: Market Chameleon

$iShares Silver Trust(SLV)$ rose 5% as traders remained optimistic ahead of the U.S. Federal Reserve's interest rate decision.

A total number of 1.65M options related to $iShares Silver Trust(SLV)$ was traded on Tuesday, up 184% from the previous trading day, of which call options accounted for 73%. Particularly high volume was seen for the $53 strike call option expiring Mar. 20, with 45,210 contracts trading. $SLV 20260320 53.0 CALL$

TOP Bullish & Bearish Single Stocks

This report shows stocks with the highest volume of bullish and bearish activity by option delta volume, which converts option volume to an equivalent stock volume (bought or sold).

If we take the total positive option delta volume and subtract the total negative option delta volume, we will get the net imbalance. If the net imbalance is positive, there is more bullish pressure. If the net is negative, there is more bearish pressure.

Based on option delta volume, traders bought a net equivalent of 1,284,743 shares of $Tesla Motors(TSLA)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 12-Dec-25 430 Call, with traders getting long 597,529 deltas on the single option contract.

Source: Market Chameleon

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