To The Moon

Market Overview

U.S. stocks ended higher on Friday (Sept. 26) after mostly in-line U.S. inflation data, but the three major indexes posted losses for the week.

Regarding the options market, a total volume of 63,124,656 contracts was traded, down 3% from the previous trading day.

Top 10 Option Volumes

Top 10: $TSLA(TSLA)$, $NVDA(NVDA)$, $INTC(INTC)$, $AAPL(AAPL)$, $OPEN(OPEN)$, $PLTR(PLTR)$, $MSTR(MSTR)$, $AMZN(AMZN)$, $AMD(AMD)$, $WOLF(WOLF)$

Source: Tiger Trade App

$Tesla(TSLA)$ shares jumped more than 4% on Friday. Wedbush analyst Dan Ives raised his Tesla price target to a Street-high $600 from $500, citing AI advancements in autonomous and robotics. Tesla will report electric vehicle deliveries this week.

There are 4.09 million Tesla option contracts traded on Friday, up 58% from the previous trading day. Call options account for 63% of overall option trades. Particularly high volume was seen for the $440 strike call option expiring September 26, with 308,041 contracts trading. TSLA 20250926 440.0 CALL

$Intel(INTC)$ shares jumped 4.4% on Friday, capping a strong run that has lifted the stock 43% since Sept. 17 and 77% year to date. Intel shares continue to grind higher as speculation continues about a potential investment from Apple. The stock could be getting a further boost on a Wall Street Journal report that Intel has also approached TSMC.

There are 2.27 million Intel option contracts traded on Friday, almost unchanged from the previous trading day. Call options account for 71% of overall option trades. Particularly high volume was seen for the $36 strike call option expiring September 26, with 113,876 contracts trading. INTC 20250926 36.0 CALL

Unusual Options Activity

Source: Market Chameleon

$Wolfspeed(WOLF)$ shares tumbled 34.6% on Friday as the semiconductor company announced plans of shifting its incorporation from North Carolina to Delaware by Sept. 29.  The announcement, part of a broader restructuring effort, arrives as the silicon carbide and gallium nitride specialist continues to operate under Chapter 11 bankruptcy protection. 

There are 600.15K Wolfspeed option contracts traded on Friday, up 19% from the previous trading day. Call options account for 52% of overall option trades. Particularly high volume was seen for the $1 strike put option expiring October 3, with 51,691 contracts trading. WOLF 20251003 1.0 PUT

$Oracle(ORCL)$ shares fell 2.7% on Friday, marking their fourth straight decline. The downturn follows Rothschild & Co Redburn's analyst Alex Haissl starting coverage of Oracle with a “Sell” rating and a price target of $175. The analyst believes the market significantly overestimates the value of Oracle's contracted cloud revenues.

There are 520.92K Oracle option contracts traded on Friday, down 18% from the previous trading day. Call options account for 56% of overall option trades. Particularly high volume was seen for the $285 strike put option expiring September 26, with 26,569 contracts trading. ORCL 20250926 285.0 PUT

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 893,696 shares of $Intel(INTC)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 03-Oct-25 30 Call, with traders getting long 442,752 deltas on the single option contract. INTC 20251003 30.0 CALL

Top 10 bullish stocks: $INTC(INTC)$, $FCX(FCX)$, $WBD(WBD)$, $NFLX(NFLX)$, $APP(APP)$, $JPM(JPM)$, $CNC(CNC)$, $MU(MU)$, $MGM(MGM)$, $T(T)$

Top 10 bearish stocks: $F(F)$, $NVDA(NVDA)$, $AAPL(AAPL)$, $TSLA(TSLA)$, $AMZN(AMZN)$, $PLTR(PLTR)$, $HOOD(HOOD)$, $LULU(LULU)$, $UNH(UNH)$; $PFE(PFE)$

Source: Market Chameleon

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