Option Movers｜Nvidia and AMD's Volume Both Surged Over 100%; Alibaba's $120 Call Surged 1800%
Market Overview
The Nasdaq Composite posted its latest record finish on Tuesday(Jul 15), supported by a jump in shares of heavyweight Nvidia, but the other Wall Street benchmarks dropped as a key inflation report and a flurry of bank earnings failed to excite investors.
Regarding the options market, a total volume of 50,928,272 contracts was traded, up 21% from the previous trading day.
Top 10 Option Volumes
Source: Tiger Trade App
Nvidia rose 4% after the chip maker said it soon expects to resume selling its H20 AI chip in China. The leading maker of artificial-intelligence chips said Monday that the U.S. government had promised to approve its license applications to sell the chip again. The Trump administration in April effectively banned Nvidia from selling H20 chips to China by tightening chip export licensing requirements to the country.
Fellow chip maker Advanced Micro Devices was up 6.4%. A report said it received approval to sell its MI308 chips in China.
There are 4.1M Nvidia option contracts traded on Tuesday, up 144% from the previous trading day. Call options account for 65% of overall option trades. Particularly high volume was seen for the $175 strike call option expiring July 18, with 262,951 contracts trading. $NVDA 20250718 175.0 CALL$
There are 1.38M AMD option contracts traded on Tuesday, up 176% from the previous trading day. Call options account for 68% of overall option trades. Particularly high volume was seen for the $160 strike call option expiring July 18, with 120,176 contracts trading. $AMD 20250718 160.0 CALL$
Unusual Options Activity
Source: Market Chameleon
Alibaba rallied 8.1% on Tuesday. Nvidia's announcement boosted virtually all Chinese AI companies. Alibaba certainly fits that mold, with its Qwen open-source model being one of the best-performing models in China.
There are 465.35K Alibaba option contracts traded on Tuesday, up 180% from the previous trading day. Call options account for 77% of overall option trades. Particularly high volume was seen for the $120 strike call option expiring July 18, with 30,574 contracts trading. $BABA 20250718 120.0 CALL$
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 601,764 shares of AMD stock. The largest bullish delta came from buying calls. The largest delta volume came from the 18-Jul-25 155 Call, with traders getting short 310,034 deltas on the single option contract.
Source: Market Chameleon
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