Option Signals | Apple Options Spike Over 4 Million Contracts; Strong Earnings Propel SOUN to Jump 26% with Options Volume at 730,000, Nearly 80% Calls
Dow Jones Industrial Average DJI | 46341.51 | +2.49% |
NASDAQ IXIC | 21590.63 | +3.83% |
S&P 500 index SPX | 6528.52 | +2.91% |
SPXW 220825 P 4950 |
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Apple Inc. AAPL | 253.79 | +2.90% |
Market Overview
As of last Friday's close, the Dow Jones Industrial Average(DJI.US) rose by 0.47% to 44,175.61 points; the NASDAQ(IXIC.US) increased by 0.98% to 21,450.02 points; and the S&P 500 index(SPX.US) gained 0.78% to 6,389.45 points.
Notably, the S&P 500's put options volume reached 2.0153 million contracts, while call options volume was 1.7208 million contracts. The put/call volume ratio was approximately 1.17, indicating a strong bearish sentiment among investors for the index. Among these, the SPX put option SPXW 220825 P 4950 had a trading volume of 9,200 contracts, with a VOL/OI ratio of 51.63. The strike price of this contract is $4,950.00, and it has declined by 29.47%.
Top 10 Options Trading Volume:
Apple Inc.(AAPL.US): Last Friday, shares rose 4.24%, with options trading volume reaching 4.09 million contracts, an increase of 2.1447 million from the previous day, representing a 1.1-fold increase. Open interest stood at 5.62 million contracts. Apple surged over 13% last week, marking its best weekly performance since July 2020. CEO Tim Cook announced at the White House that Apple will invest an additional $100 billion in the U.S. over the next four years, bringing total investment to $600 billion, including a previously pledged $500 billion.
Tesla Motors, Inc.(TSLA.US): Shares increased by 2.29% on Friday, with options trading volume hitting 3.76 million contracts, up by 2.1025 million from the previous day, a 1.27-fold increase. Open interest was at 8.33 million contracts. The Texas Department of Licensing and Regulation (TDLR) has granted Tesla a transportation network company license for its Robotaxi, paving the way for autonomous taxi operations in the state.
NVIDIA Corporation(NVDA.US): Shares rose 1.07% on Friday, with options trading volume at 2.93 million contracts, an increase of 156,800 from the previous day, a 0.06-fold increase. Open interest reached 20.21 million contracts. The U.S. Commerce Department has begun issuing export licenses to NVIDIA, allowing the export of H20 chips to China, removing a major barrier to entering this key market.
Palantir(PLTR.US): Shares climbed 2.61% on Friday, with options trading volume reaching 1.27 million contracts, up by 149,800 from the previous day, a 0.13-fold increase. Open interest was at 3.82 million contracts. Citibank analyst Tyler Radke raised the target price from $115 to $158, maintaining a "hold" rating, based on better-than-expected Q2 results, which showed significant growth in both the commercial and government sectors, as well as strong contributions from the U.S. domestic market.
Advanced Micro Devices, Inc.(AMD.US): Shares edged up 0.21% on Friday, with options trading volume at 1.21 million contracts, a decrease of 511,800 from the previous day, a 0.3-fold decrease. Open interest stood at 4.43 million contracts. Q2 earnings exceeded expectations, with revenue reaching $7.69 billion, above the anticipated $7.42 billion. AMD forecasts Q3 sales of $8.7 billion, surpassing market expectations. The company is making progress in AI with the release of the new MI400 AI chip, expected next year. CEO Lisa Su noted positive signals across all products and progress in restoring exports to China.
Robinhood(HOOD.US): Shares rose 3.06% on Friday, with options trading volume at 800,000 contracts, an increase of 123,300 from the previous day, a 0.18-fold increase. Open interest was at 2.39 million contracts.
SoundHound AI(SOUN.US): Shares soared 26.4% on Friday, with options trading volume reaching 730,000 contracts, an increase of 523,400 from the previous day, with call options accounting for nearly 80%. Open interest was at 850,000 contracts. Q2 revenue reached a record $42.7 million, up 217% year-over-year, with a net loss of $74.7 million and an adjusted net loss of $11.9 million. The company raised its full-year outlook, expecting total revenue between $160 million and $178 million in 2025, maintaining the goal of achieving adjusted EBITDA profitability by the end of 2025.
The Trade Desk(TTD.US): Shares fell 38.61% on Friday, with options trading volume at 720,000 contracts, an increase of 575,600 from the previous day, a 3.99-fold increase. Open interest was at 630,000 contracts. Revenue grew 19% year-over-year to $694 million, with earnings per share at $0.41, up 4%. Wall Street had predicted revenue of $685.5 million and EPS of $0.41. The company announced that its CFO will depart later this month.
| Code | Closing Price | Volume | Open Interest | PUT/CALL |
|---|---|---|---|---|
| Apple Inc.(AAPL.US) | 229.35 | 4.09M | 5.62M | 0.7 |
| Tesla Motors, Inc.(TSLA.US) | 329.65 | 3.76M | 8.33M | 0.9 |
| NVIDIA Corporation(NVDA.US) | 182.7 | 2.93M | 20.21M | 0.9 |
| Palantir(PLTR.US) | 186.96 | 1.27M | 3.82M | 1.0 |
| Advanced Micro Devices, Inc.(AMD.US) | 172.76 | 1.21M | 4.43M | 0.9 |
| Alphabet Inc. Class A(GOOGL.US) | 201.42 | 0.96M | 3.69M | 0.6 |
| Strategy (MSTR.US) | 395.13 | 0.88M | 2.9M | 1.0 |
| Robinhood(HOOD.US) | 114.63 | 0.8M | 2.39M | 0.6 |
| SoundHound AI(SOUN.US) | 13.55 | 0.73M | 0.85M | 0.4 |
| The Trade Desk(TTD.US) | 54.23 | 0.72M | 0.63M | 0.9 |
PUT/CALL: Counts the percentage of open put and call option holdings for the listed stocks during the trading day.
Options Activity Tracking:
Apple Inc.(AAPL.US): Last Friday, shares rose 4.24%, leading to significant declines in several put options:
- The AAPL 080825 P 227.5 put option, with a strike price of $227.5 and expiring on August 8, 2025, saw a trading volume of 167,000 contracts, dropping 99.33%.
- The AAPL 080825 P 225 put option, with a strike price of $225.0 and the same expiration date, traded 137,100 contracts, decreasing 99.81%.
Tesla Motors, Inc.(TSLA.US): Shares increased by 2.29%, with the TSLA 080825 P 332.5 put option, having a strike price of $332.5 and expiring on August 8, 2025, trading 91,100 contracts, down 72.37%.
Robinhood(HOOD.US): Shares rose 3.06%, with the HOOD 080825 P 114 put option, at a strike price of $114.0 and expiring on August 8, 2025, trading 22,300 contracts, falling 99.7%.
| Code | Option Type | Strike Price | Expiration Date | Volume | Open Interest | Vol/OI |
|---|---|---|---|---|---|---|
| Apple Inc.(AAPL.US) | PUT | $227.5 | 08/08/25 | 166.96K | 125 | 1335.66 |
| Apple Inc.(AAPL.US) | PUT | $225.0 | 08/08/25 | 137.07K | 573 | 239.22 |
| Tesla Motors, Inc.(TSLA.US) | PUT | $332.5 | 08/08/25 | 91.14K | 426 | 213.95 |
| Robinhood(HOOD.US) | PUT | $114.0 | 08/08/25 | 22.25K | 105 | 211.9 |
| Robinhood(HOOD.US) | PUT | $115.0 | 08/08/25 | 31.97K | 230 | 139.01 |
| Tesla Motors, Inc.(TSLA.US) | PUT | $327.5 | 08/08/25 | 167.63K | 1215 | 137.97 |
| The Trade Desk(TTD.US) | CALL | $55.0 | 08/15/25 | 32.76K | 248 | 132.08 |
| Palantir(PLTR.US) | PUT | $187.5 | 08/08/25 | 43.08K | 337 | 127.84 |
| Tesla Motors, Inc.(TSLA.US) | PUT | $330.0 | 08/08/25 | 248.08K | 2051 | 120.96 |
| Altria Group, Inc.(MO.US) | CALL | $66.0 | 08/15/25 | 17.17K | 159 | 107.98 |
vol/oi: The ratio of options volume to the number of open positions in the contract, with higher vol/oi indicating that the market is creating an abnormal number of new positions.
Option IV Unusual Movements:
BitMine Immersion Technologies Inc Ordinary Shares(BMNR.US) saw a significant increase last Friday, with shares rising over 24%. Options trading volume reached 350,000 contracts, and the implied volatility (IV) hit 140%.
High IV stocks:
| Code | Volume | IV | IV Rank | IV Percentile |
|---|---|---|---|---|
| BitMine Immersion Technologies Inc Ordinary Shares(BMNR.US) | 352.15K | 140.42% | 55.81% | 62% |
| CoreWeave(CRWV.US) | 419.40K | 113.36% | 27.57% | 41% |
| Circle(CRCL.US) | 161.68K | 78.25% | 9.12% | 14% |
| Nebius Group(NBIS.US) | 121.62K | 73.78% | 0.00% | 0% |
| Astera Labs, Inc.(ALAB.US) | 52.20K | 70.92% | 18.86% | 30% |
| GigaCloud Technology Inc(GCT.US) | 10.38K | 62.96% | 22.23% | 23% |
| Robinhood(HOOD.US) | 801.46K | 61.97% | 22.02% | 28% |
| Reddit(RDDT.US) | 109.45K | 61.61% | 15.39% | 19% |
| SanDisk Corporation(SNDK.US) | 9.50K | 61.07% | 17.51% | 63% |
| AppLovin Corporation(APP.US) | 217.22K | 57.85% | 17.26% | 18% |
Source: Barchart, data as of Eastern Time, August 8, 2025.
Read More: A quick look at the pros and cons of index options!
Note: Implied volatility estimates the expected fluctuation of a stock's price and is derived from the cost of its options. High and low levels of implied volatility signify market sentiment and option supply and demand dynamics. Feeding into an option's premium, implied volatility, time value, and directional movement embody the core aspects influencing option pricing. Traders navigate their strategies within this three-dimensional framework.
Volume reflects the aggregate volume of options contracts executed in a single day.
IV Rank gauges the standing of the current implied volatility within the highest and lowest values observed over the past year, serving as a relative measure.
IV Percentile denotes the proportion of days during the past year when the implied volatility was lower than the present rate, providing a statistical norm.
IV Yearly High marks the apex of an option's implied volatility recorded within the preceding year, signaling its peak uncertainty or risk