Market Overview
U.S. stocks finished slightly lower on Wednesday (July 1) as technology shares fell, but gains in Meta Platforms limited the decline in the S&P 500 and Nasdaq.
Regarding the options market, a total volume of 63,916,283 contracts was traded, up 15% from the previous trading day.
Top 10 Option Volumes
Top 10: $TSLA(TSLA)$, $NVDA(NVDA)$, $META(META)$, $AAPL(AAPL)$, $MSFT(MSFT)$, $MU(MU)$, $AMZN(AMZN)$, $PLTR(PLTR)$, $SPCX(SPCX)$, $INTC(INTC)$
Source: Tiger Trade App
$Microsoft(MSFT)$ shares rose 3.02% to $384.28 on Wednesday after consumer health company Haleon announced a new five-year agreement to expand its use of Microsoft's artificial intelligence, cloud, and data technologies across its global operations.
There are 1.17M Microsoft option contracts traded on Wednesday, up 2239% from the previous trading day. Call options account for 77% of overall option trades, reflecting robust bullish sentiment across the market. Particularly high volume was seen for the $390 strike call option expiring July 1, with 89,259 contracts trading. MSFT 20260701 390.0 CALL
$Palantir Technologies(PLTR)$ rose 7.77% to $125.73 on Wednesday as the company announced it had entered into a new strategic initiative with Nvidia to build custom artificial intelligence models for the U.S. government.
There are 860.56K Palantir Technologies option contracts traded on Wednesday, up 168% from the previous trading day. Call options account for 70% of overall option trades. Fueled by pervasive bullish market sentiment, particularly high volume was seen for the $125 strike call option expiring July 2, with 47,032 contracts trading. PLTR 20260702 125.0 CALL
Unusual Options Activity
Source: Market Chameleon
$Meta Platforms(META)$ advanced 8.8% to $612.91 on a report it plans to build a cloud business to sell excess artificial-intelligence computing capacity. Meta hopes to generate revenue from selling excess computing power to third parties, Bloomberg reported.
There are 1,525,686 Meta option contracts traded on Wednesday, up 396% from the previous trading day. Call options account for 73% of overall option trades, reflecting robust bullish sentiment across the market. Particularly high volume was seen for the $620 strike call option expiring July 1, with 54,632 contracts trading. META 20260701 620.0 CALL
$CoreWeave(CRWV)$ sank 13.92% to $85.69 as the Meta news put pressure on the so-called neoclouds that are also in the business of selling AI computing power.
There are 414,587 CoreWeave option contracts traded on Wednesday, up 158% from the previous trading day. Call options account for 62% of overall option trades. Particularly high volume was seen for the $90 strike call option expiring July 2, with 19,244 contracts trading. CRWV 20260702 90.0 CALL
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