Option Signals | Palantir Surges 7% Post-Earnings, Multiple Put Options Plummet; UnitedHealth Sees 480,000 Contracts Traded, with Over 70% Call Options
Dow Jones Industrial Average DJI | 46565.74 | +0.48% |
NASDAQ IXIC | 21840.95 | +1.16% |
S&P 500 index SPX | 6575.32 | +0.72% |
SPXW 190925 P 5150 |
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NVIDIA Corporation NVDA | 175.75 171.72 | +0.77% -2.29% Pre |
Market Overview
As of the market close, the Dow Jones Industrial Average(DJI.US) fell by 0.14% to 44,111.74 points; the NASDAQ(IXIC.US) dropped 0.65% to 20,916.55 points; and the S&P 500 index(SPX.US) declined 0.49% to 6,299.19 points.
Notably, the trading volume for S&P 500 (SPX) put options reached 2.139 million contracts, while call options saw a volume of 1.6473 million contracts, resulting in a put/call ratio of approximately 1.30. This indicates a strong bearish sentiment among investors. Among these, one specific put option, SPXW 190925 P 5150, had a trading volume of 58,800 contracts, with a VOL/OI ratio of 316.31. The strike price for this contract is 5,150.00, and it saw a decrease of 12.53%.
Top 10 Options Trading Volume:
NVIDIA Corporation(NVDA.US): The stock fell 0.97% overnight, with daily options volume reaching 1.74 million contracts, a decrease of 142,200 contracts from the previous day, representing a 0.08 times reduction. Open interest stands at 19.53 million contracts.
Palantir(PLTR.US): The stock rose 7.85% overnight, with daily options volume reaching 1.58 million contracts, an increase of 534,300 contracts from the previous day, doubling the 30-day average daily volume. Open interest is at 3.37 million contracts. After Monday's market close, Palantir reported second-quarter earnings, driven by surging AI demand. Revenue reached $1.004 billion, up 48% year-over-year, with net profit at $327 million and diluted EPS of $0.16, surpassing market expectations of $0.14.
Tesla Motors, Inc.(TSLA.US): The stock fell 0.17% overnight, with daily options volume totaling 1.11 million contracts, a decrease of 344,100 contracts from the previous day, representing a 0.24 times reduction. Open interest is at 7.93 million contracts. Tesla and Elon Musk face a shareholder lawsuit alleging securities fraud for concealing significant risks associated with the company's autonomous vehicles, including the Robotaxi.
Advanced Micro Devices, Inc.(AMD.US): The stock fell 1.4% overnight, with daily options volume reaching 1.03 million contracts, an increase of 553,600 contracts from the previous day, representing a 1.16 times surge. Open interest is at 3.8 million contracts. AMD reported quarterly earnings post-market on Tuesday, exceeding revenue expectations, but U.S. export controls led to $800 million in inventory and related costs.
Hims & Hers Health(HIMS.US): The stock fell 12.36% overnight, with daily options volume reaching 610,000 contracts, an increase of 311,600 contracts from the previous day, representing a 1.04 times surge. Open interest is at 1.01 million contracts. Quarterly revenue rose 73% year-over-year to $544.8 million, below the market expectation of $552 million. Adjusted EPS was $0.17 (expected $0.15), and adjusted EBITDA doubled to $82 million from $39.3 million last year.
Apple Inc.(AAPL.US): The stock fell 0.21% overnight, with daily options volume totaling 590,000 contracts, a decrease of 478,400 contracts from the previous day, representing a 0.45 times reduction. Open interest is at 5.01 million contracts. Apple's AI development struggles have led to investor dissatisfaction, with the stock down about 16% this year. Tariff policies resulted in $800 million in costs this quarter, expected to rise to $1.1 billion next quarter, potentially squeezing profits further. Concerns over Apple's AI strategy include delayed AI updates for Siri and slow progress with Apple Intelligence, despite strong financial performance.
Intel Corporation(INTC.US): The stock rose 3.54% overnight, with daily options volume reaching 550,000 contracts, an increase of 336,100 contracts from the previous day, representing a 1.54 times surge. Open interest is at 5.65 million contracts. Intel partnered with Zhiwei Smart to launch a green AI all-in-one machine featuring the latest Meteor Lake Ultra processors, showcasing innovation in AI. Intel is seeking strategic investors, possibly selling part of its Network and Edge (NEX) business to Ericsson, indicating active business restructuring.
UnitedHealth Group Incorporated(UNH.US): The stock rose 4.16% overnight, with daily options volume reaching 480,000 contracts, an increase of 135,200 contracts from the previous day, representing a 0.39 times surge. Open interest is at 1.85 million contracts. UnitedHealth will support the new private health tracking system announced by Trump, potentially creating new business opportunities. Despite recent market pressures, analysts believe the stock may be undervalued, with strong fundamentals including $400 billion in annual revenue and $25.3 billion in free cash flow.
| Code | Closing Price | Volume | Open Interest | PUT/CALL |
|---|---|---|---|---|
| NVIDIA Corporation(NVDA.US) | 178.26 | 1.74M | 19.53M | 0.9 |
| Palantir(PLTR.US) | 173.27 | 1.58M | 3.37M | 1.0 |
| Tesla Motors, Inc.(TSLA.US) | 308.72 | 1.11M | 7.93M | 0.9 |
| Advanced Micro Devices, Inc.(AMD.US) | 174.31 | 1.03M | 3.8M | 0.9 |
| Amazon.com, Inc.(AMZN.US) | 213.75 | 0.61M | 4.24M | 0.8 |
| Hims & Hers Health(HIMS.US) | 55.52 | 0.61M | 1.01M | 1.5 |
| Apple Inc.(AAPL.US) | 202.92 | 0.59M | 5.01M | 0.7 |
| Intel Corporation(INTC.US) | 20.19 | 0.55M | 5.65M | 0.7 |
| OpenDoor Technologies, Inc.(OPEN.US) | 2.52 | 0.53M | 2.23M | 0.3 |
| UnitedHealth Group Incorporated(UNH.US) | 251.0 | 0.48M | 1.85M | 0.4 |
PUT/CALL: Counts the percentage of open put and call option holdings for the listed stocks during the trading day.
Options Activity Tracking:
Palantir(PLTR.US): The stock rose 7.85% overnight, with notable activity in put options:
- The PLTR 080825 P 172.5 put option, with a strike price of $172.5 expiring on August 8, 2025, saw a volume of 28,500 contracts and dropped 80.66%.
- The PLTR 080825 P 170 put option, with a strike price of $170.0 expiring on August 8, 2025, had a volume of 67,600 contracts and fell 84.8%.
- The PLTR 150825 P 172.5 put option, with a strike price of $172.5 expiring on August 15, 2025, traded 9,000 contracts and decreased by 68.77%.
Rivian(RIVN.US): The stock fell 2.1% overnight. The RIVN 171227 P 20put option, with a strike price of $20.0 expiring on December 17, 2027, had a volume of 12,100 contracts and increased by 10.59%.
| Code | Option Type | Strike Price | Expiration Date | Volume | Open Interest | Vol/OI |
|---|---|---|---|---|---|---|
| Palantir(PLTR.US) | PUT | $172.5 | 08/08/25 | 28.54K | 142 | 201.01 |
| TILRAY, INC.(TLRY.US) | PUT | $2.0 | 01/15/27 | 20.78K | 149 | 139.48 |
| Palantir(PLTR.US) | PUT | $170.0 | 08/08/25 | 67.58K | 706 | 95.72 |
| Palantir(PLTR.US) | PUT | $172.5 | 08/15/25 | 9.03K | 107 | 84.4 |
| Rivian(RIVN.US) | PUT | $20.0 | 12/17/27 | 12.1K | 165 | 73.33 |
| Eli Lilly and Company(LLY.US) | CALL | $910.0 | 08/15/25 | 10.58K | 165 | 64.1 |
| Celsius Holdings, Inc.(CELH.US) | PUT | $42.0 | 08/15/25 | 6.24K | 110 | 56.71 |
| Match Group, Inc.(MTCH.US) | CALL | $38.0 | 08/15/25 | 7.26K | 136 | 53.4 |
| Marriott International, Inc. Class A(MAR.US) | CALL | $240.0 | 01/16/26 | 14.13K | 302 | 46.78 |
| Coinbase(COIN.US) | CALL | $305.0 | 08/08/25 | 4.44K | 102 | 43.49 |
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:
USA Rare Earth Inc. Ordinary Shares - Class A(USAR.US): The stock rose over 1% overnight, with options volume reaching 20,000 contracts and implied volatility (IV) at 130%.
High IV stocks:
| Code | Volume | IV | IV Rank | IV Percentile |
|---|---|---|---|---|
| USA Rare Earth Inc. Ordinary Shares - Class A(USAR.US) | 22.87K | 130.90% | 23.93% | 43% |
| SharpLink Gaming Ltd. - Ordinary Shares(SBET.US) | 91.74K | 128.77% | 0.00% | 0% |
| RED CAT HOLDINGS(RCAT.US) | 52.96K | 125.29% | 21.37% | 40% |
| BigBear.ai Holdings(BBAI.US) | 73.80K | 121.24% | 39.26% | 28% |
| BitMine Immersion Technologies Inc Ordinary Shares(BMNR.US) | 59.14K | 115.16% | 0.00% | 0% |
| Sarepta Therapeutics, Inc.(SRPT.US) | 13.83K | 112.20% | 49.50% | 95% |
| D-Wave Quantum(QBTS.US) | 118.28K | 110.43% | 6.12% | 21% |
| CoreWeave(CRWV.US) | 212.20K | 109.09% | 22.38% | 34% |
| Oklo Inc(OKLO.US) | 154.28K | 108.99% | 38.62% | 49% |
| Famous Dave's of America, Inc.(DAVE.US) | 6.15K | 107.62% | 60.64% | 89% |
Source: Barchart, data as of Eastern Time, August 5, 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