Market Overview
The S&P 500 and Nasdaq indexes fell on Tuesday(June 9) as a rebound in technology shares faded and as President Donald Trump said the U.S. must react to Iran's shooting down of a U.S. helicopter.
Regarding the options market, a total volume of 78,764,338 contracts was traded, up 30% from the previous trading day.
Top 10 Option Volumes
Top 10: NVDA, TSLA, AAPL, VIX, MU, AMZN, MSFT, INTC, MRVL, NOK
Source: Tiger Trade App
Apple fell 3.6% as Wall Street was lukewarm to the iPhone maker’s AI plans. The stock had been trending higher Monday before it unveiled new Apple Intelligence features during its Worldwide Developers Conference. KeyBanc analyst Brandon Nispel wrote there weren’t clear signs of monetization of AI and that Siri is still worse than other large language models.
There are 1.72M Apple option contracts traded Tuesday, down 22% from the previous trading day. Call options account for 60% of overall option trades. Particularly high volume was seen for the $230 strike put option expiring June 10, with 90,936 contracts trading. AAPL 20260610 290.0 PUT
Micron Technology stock fell 1.41% Tuesday as investors resumed selling shares of memory-chip makers, which took a beating in last week’s brutal artificial-intelligence selloff. UBS analyst Nicolas Gaudois said in a research note published on Monday that the selloff in memory-chip makers was an “opportunity.” He rates Micron at Buy, with a $1,625 price target.
There are 731.01K Micron option contracts traded Tuesday, up 20% from the previous trading day. Call options account for 56% of overall option trades. Particularly high volume was seen for the $1000 strike call option expiring June 12, with 28,100 contracts trading. MU 20260612 1000.0 CALL
Unusual Options Activity
Source: Market Chameleon
Chip maker Marvell Technology dropped 7.6% Tuesday, having rallied 9.6% the previous session on the news that it would join the S&P 500 later this month.
There are 520,952 Marvell option contracts traded on Tuesday, up 24% from the previous trading day. Call options account for 64% of overall option trades. Particularly high volume was seen for the $300 strike call option expiring June 12, with 29,812 contracts trading. MRVL 20260612 300.0 CALL
Nokia Oyj shares down 5.07% on Monday, after traders cited a report warning of potential risks from Nvidia developing technology for future mobile networks.
There are 494,497 Nokia Technologies option contracts traded on Tuesday, up 11% from the previous trading day. Call options account for 80% of overall option trades. Particularly high volume was seen for the $15 strike call option expiring July 17, with 17,239 contracts trading. NOK 20260717 15.0 CALL
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