Option Movers | Meta's Volume Surges 240%; Micron's $430 Put Jumps 51%

Market Overview

Wall Street’s main indexes fell sharply on Thursday (Mar 26) and the Nasdaq confirmed a correction as investors worried about escalation in the US-Israeli war against Iran, which has sent oil prices soaring and exacerbated inflation concerns.

Regarding the options market, a total volume of 57,789,062 contracts was traded, up 14% from the previous trading day.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $META(META)$, $MSFT(MSFT)$, $AMZN(AMZN)$, $AAPL(AAPL)$, $MU(MU)$, $VIX(VIX)$, $AMD(AMD)$, $PLTR(PLTR)$

Source: Tiger Trade App

Among the biggest weights on the Nasdaq on Thursday was $Meta Platforms(META)$, dropping 8% after two verdicts holding it liable for harm to young users sparked fears the social media company may have to overhaul its sprawling advertising business.

There are 1.63 million Meta option contracts traded on Thursday, up 240% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $750 strike call option expiring January 15, 2027, with 201,500 contracts trading. META 20270115 750.0 CALL

Unusual Options Activity

Source: Market Chameleon

Memory chip stocks extended their losses on Thursday after Alphabet’s Google publicized research on a new algorithm that could allow more efficient use of the storage needed for artificial intelligence development. In the US, $Micron Technology(MU)$, $Western Digital(WDC)$, $Seagate Technology(STX)$, and $SanDisk(SNDK)$ all slid at least 7% in US trading, after they closed lower on Wednesday.

There are 881.76K Micron option contracts traded on Thursday, up 34% from the previous trading day. Put options account for 51% of overall option trades. Particularly high volume was seen for the $430 strike put option expiring March 27, with 29,086 contracts trading. MU 20260327 430.0 PUT

$MARA Holdings(MARA)$, one of the largest Bitcoin mining firms in the U.S., said on Thursday that it had sold roughly 15,000 BTC for $1.1 billion to repurchase a portion of its convertible debt, describing the move as a way to improve its overall financial footing. MARA Holdings shares gained 3.6%.

There are 525.85K MARA Holdings option contracts traded on Thursday, up 119% from the previous trading day. Call options account for 51% of overall option trades. Particularly high volume was seen for the $9.5 strike call option expiring March 27, with 43,162 contracts trading. MARA 20260327 9.5 CALL

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