Market Overview
Wall Street ended higher on Tuesday(Jan 6), as chip stocks surged on renewed AI optimism, Moderna rallied and the Dow Jones Industrial Average reached a record high.
Regarding the options market, a total volume of 57,106,828 contracts was traded.
Top 10 Option Volumes
Source: Tiger Trade App
Tesla Motors 's shares were down 4% on Tuesday after Nvidia announced new open-source artificial intelligence (AI) models for autonomous driving.
There are 2.46M Tesla option contracts traded on Tuesday, up 39% from the previous trading day. Call options account for 56% of overall option trades. Particularly high volume was seen for the $430 strike put option expiring January 9, 2026, with 91,623 contracts trading. $TSLA 20260109 430.0 PUT$
Unusual Options Activity
Source: Market Chameleon
Micron Technology shares were up 10% on Tuesday. The move came as memory and storage technology stocks rallied after Nvidia CEO Jensen Huang, speaking at the Consumer Electronics Show in Las Vegas, described what Reuters called a new layer of storage technology. The PHLX semiconductor index, which tracks U.S.-listed chipmakers, hit an all-time high and was up about 8% in the first three trading sessions of 2026. “We’re going to have a very strong earnings season for Big Tech,” said Jed Ellerbroek, a portfolio manager at Argent Capital.
There are 604.31K Micron option contracts traded on Tuesday, up 90% from the previous trading day. Call options account for 60% of overall option trades. Particularly high volume was seen for the $350 strike call option expiring January 9, 2026, with 23,783 contracts trading. $MU 20260109 350.0 CALL$
TOP 10 S&P 500 Bullish & Bearish
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 1,110,096 shares of Amazon.com stock. The largest bullish delta came from buying calls. The largest delta volume came from the 18-Jun-26 310 Call, with traders getting long 248,500 deltas on the single option contract.
Source: Market Chameleon
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