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Options Market Statistics: Tesla, Nvidia Lead Tech Sell-Off, Options Pop

$NVIDIA Corp(NVDA)$   ended 5.57% lower. Its options trading volume was 6.66 million. Call contracts account for 61.2% of the total trading volume. The $135 calls expiring July 12 were traded most actively.

U.S. stocks declined on Thursday as investors shifted away from tech stocks following a key inflation report showing an unexpected month-over-month decrease in consumer prices for the first time since 2020. The $S&P 500(.SPX)$   fell 0.9%, dropping below 5,600 after surpassing the level on Wednesday. The $DJIA(.DJI)$   rose slightly by nearly 0.1%, while the tech-heavy $NASDAQ(.IXIC)$   led the decline, falling almost 2%.

Big Tech faced significant sell-offs, with Nvidia dropping over 5% and the "Magnificent 7" experiencing their worst day in nearly a year. Tesla shares fell more than 8%, ending an 11-day winning streak, due to a report on the delay of its robotaxi unveiling.

Investors moved towards rate-sensitive sectors such as Real Estate and Utilities after June's lower-than-expected inflation print. The Consumer Price Index (CPI) declined 0.1% from the previous month and rose 3.0% year-over-year, marking the slowest annual increase since early 2021.

Stock gains earlier in the week were driven by Fed Chair Jerome Powell's comments suggesting that conditions were nearing readiness for interest-rate cuts. The latest inflation data strengthened bets on a rate cut by September, with around 90% of traders expecting this outcome according to the CME FedWatch tool.

$Tesla Motors(TSLA)$   ended 8.44% lower. Its options trading volume was 4.99 million. Call contracts account for 54.2% of the total trading volume. The $270 calls expiring July 12 were traded most actively.

$American Airlines(AAL.US)$ ended 3.77% lower. Its options trading volume was 0.31 million. Call contracts account for 51.1% of the total trading volume. The $11 calls expiring July 12 were traded most actively.

Airline stocks declined following weak earnings reports from $Delta Air Lines(DAL.US)$. Despite strong summer travel and consumer spending meeting expectations, Delta's CEO indicated that an increase in available seats may have led to lower-than-expected operating profit and earnings, missing analyst estimates.

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