Key focus.

1,$GameStop (GME.US)$It rose 21% overnight, and the implied volatility rose to 254%, ranking among the top in US stocks. The options trading volume was 910,000 contracts, an increase of over 190% from the previous trading day, and the call ratio dropped from 77% to 62%. On the options chain, the put options with a strike price of $20 and due on Friday sold the most, totaling 44,000 contracts with an open interest of nearly 4,000 contracts. In addition, the call options with a strike price of $56 that also expired on the same day earned nearly 9 times the option premium.

After Keith Gill returned to the public eye, his old opponent and founder of Citron Research, Andrew Left, publicly stated that he wanted to short GameStop. In the short squeeze battle of 2021, Left failed to short GameStop and chose to do it again this time. Regarding Gill's post on Reddit, he said, "I shorted it after seeing it." At the same time, well-known investor Duan Yongping revealed that he sold call options with a high exercise price of $100 for GameStop and the expiration date was January 17, 2025.

2,$NVIDIA (NVDA.US)$It rose nearly 5% overnight, and the options trading volume was 1.23 million contracts, and the call ratio rose to 62%. On the options chain, the call options due on Friday with a strike price of $1,200/$1,140/$1,150 were active, with trading volumes of 53,000 contracts, 46,000 contracts, and 44,000 contracts, respectively. In addition, multiple call options with the same expiration date doubled in premium.

NVIDIA CEO Huang Renxun announced earlier that NVIDIA's new generation of AI chips, the Blackwell series, has started production. Huang Renxun also revealed that NVIDIA plans to launch a higher-end Blackwell Ultra chip in 2025, which will use HBM4 high-bandwidth memory. In addition, Tesla CEO Musk stated that his AI startup company xAI will spend at least $9 billion to purchase 300,000 NVIDIA B200 AI chips.

3,$Dell Technologies (DELL.US)$It fell more than 5% overnight, and the options trading volume was 250,000 contracts, nearly doubling the average daily trading volume, and the call ratio rose to 65%. On the options chain, both bullish and bearish sentiments were anxious, and the call and put options with a strike price of $140 and $130 due on Friday were active, with trading volumes of 13,000 contracts and 11,000 contracts and open interests of nearly 3,000 contracts each. In addition, multiple put options with the same expiration date doubled in premium.

Morgan Stanley analysts Erik Woodring and others believe that Dell's stock has already soared 39% in a single month in May, hitting a historical high, and its performance far exceeds the market. This drop is also due to the sentiment of some investors taking profit. But Erik believes that this retreat is closer to an opportunity to "pick up passengers", and Dell still has room to rise.

1. US stock options trading list

2. ETF options trading list.

3. Individual stock implied volatility (IV) ranking.

Risk warning

Options are contracts that give the holder the right to buy or sell an asset at a fixed price on or before a specific date, without any obligation. The price of an option is influenced by various factors, including the current price of the underlying asset, exercise price, expiration time and implied volatility.

Implied volatility reflects the market's expectation for the future volatility of an option, and it is a signal of market sentiment derived from the option pricing model called Black-Scholes (BS). When investors expect greater volatility, they may be willing to pay a higher premium for an option to help hedge risks, thus resulting in a higher implied volatility.

Traders and investors use implied volatility to assess the attractiveness of option prices, identify potential mispricing, and manage risk exposure.

Disclaimer

This content does not constitute an offer, solicitation, recommendation, opinion, or guarantee of any securities, financial products or instruments. The loss risk of buying and selling options could be substantial. In certain circumstances, you may suffer losses exceeding the amount initially deposited as margin. Even if you set up backup instructions, such as stop loss or limit instructions, losses may not be avoided. Market conditions may render such orders impossible to execute. You may be required to deposit additional margin in a very short period of time. If the required amount cannot be provided within the specified time, your open contracts may be closed. However, you are still responsible for any shortfalls in your account arising from this. Therefore, before buying or selling, you should research and understand the options, and consider carefully whether such trading is suitable for you based on your financial situation and investment objectives. If you buy or sell options, you should be familiar with the exercise of options and the procedures at expiration, as well as your rights and obligations when exercising an option or at expiration.

Editor/tolk