Market Overview

As of the close, the Dow Jones fell 0.84% to 46,912.3 points; the Nasdaq dropped 1.9% to 23,053.99 points; and the S&P 500 declined 1.12% to 6,720.32 points.

Amid signs of a deteriorating U.S. job market and misunderstandings sparked by statements from OpenAI executives about AI giants needing U.S. government backing after a "trillion-dollar order spree," leading tech stocks have collectively declined again.

Notably, the S&P 500 index(SPX.US) put options volume reached 2.6656 million contracts, while call options volume was 2.2123 million contracts, with a put/call ratio of about 1.20, indicating a strong bearish sentiment among investors. Among them, the SPX call option SPXW 071125 C 6765 had a volume of 4,600 contracts, with a VOL/OI ratio of 41.94. This contract's strike price is 6,765.00 USD, and the option fell by 77.26%.

Top 10 Options Trading Volume:

NVIDIA Corporation(NVDA.US): Fell 3.65% overnight. Total options volume for the day reached 4.18 million contracts, an increase of 2.0132 million from the previous day, representing a 0.93x increase compared to the previous day. Open interest stood at 20.20 million contracts.

Nvidia has recently seen a lot of news flow. Firstly, "Big Short" investor Michael Burry, through his firm Scion Asset Management, has taken a big short position against Nvidia, which could heighten market concerns about Nvidia's share price. Secondly, on Thursday, remarks from OpenAI executives triggered a market storm. Additional factors such as reduced expectations for a Fed rate cut in December and Google rolling out its most powerful chip yet—aiming to win AI business by offering custom silicon—have all contributed to significant volatility in Nvidia and other AI-related stocks.

Tesla Motors, Inc.(TSLA.US): Fell 3.5% overnight. Total options volume for the day reached 2.45 million contracts, an increase of 536,600 from the previous day, representing a 0.28x increase compared to the previous day. Open interest stood at 8.22 million contracts.

Palantir(PLTR.US): Fell 6.84% overnight. Total options trading volume for the day reached 1.19 million contracts, an increase of 135,300 from the previous day, representing a 0.13x increase over the previous day. Open interest stood at 3.86 million contracts.

PUT/CALL: Counts the percentage of open put and call option holdings for the listed stocks during the trading day.

Options Activity Tracking:

Tesla Motors, Inc.(TSLA.US): Fell 3.5% overnight. The TSLA 071125 C 820 call option with a strike price of $820.00, expiring on November 7, 2025, traded 33,200 contracts and was unchanged (up 0.0%).

NexGen Energy Ltd.(NXE.US): Fell 7.09% overnight. The NXE 191225 C 10 call option with a strike price of $10.00, expiring on December 19, 2025, traded 30,400 contracts and dropped 45.45%.

On Thursday, November 6 (local time), the US Geological Survey (USGS) published the "2025 Critical Minerals List" on its official website, bringing the total to 60 minerals after the addition of copper, silver, and uranium. The USGS noted that the Department of Energy supports including metallurgical coal and uranium on the list. According to the Department of Energy, uranium is crucial for power generation and national security, while metallurgical coal is vital for steel production, which is expected to keep increasing. Most uranium-related stocks fell.

CoreWeave(CRWV.US): Fell 6.55% overnight. The CRWV 071125 C 110 call option with a strike price of $110.00, expiring on November 7, 2025, traded 9,700 contracts and fell 77.05%.

Rocket Lab(RKLB.US): Fell 12.07% overnight. The RKLB 141125 C 55 call option with a strike price of $55.00, expiring on November 14, 2025, traded 11,500 contracts and fell 66.35%.

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.

Read More: A quick look at the pros and cons of index options!