Key focus

1.$Tesla (TSLA.US)$It fell nearly 2% overnight, with 1.75 million options trading volume, up nearly 30% from the previous trading day, and the bearish ratio soared from 42% to 55%. The long and short sentiment on the options chain is intense. Among them, put and call transactions with an exercise price of $170 and $175 due on Friday were active, with trading volumes of 135,000 and 112,000, respectively. A search for large orders with a turnover of more than 100 million US dollars revealed that a large company bought a put option when Tesla's stock price was 174.61 US dollars, with a turnover of about 210 million US dollars.

The media quoted several people familiar with the matter as saying that prosecutors at the US Department of Justice are investigating whether Tesla misled consumers and investors when promoting Autopilot and FSD, thus constituting securities or telecom fraud.

2,$NVIDIA (NVDA.US)$Overnight options traded at 930,000, and the bullish ratio rose to 62%. Calls due on Friday with an exercise price of $910/900 were the highest, with 63,000 and 60,000, respectively, and the number of unclosed positions was 7,400 and 8,400, respectively.

Goldman Sachs raised Nvidia's price target from $1,000 to $1,100, which means the stock has about 22% potential to rise from current levels. Goldman Sachs analyst Toshiya Hari believes AI remains Nvidia's main growth driver, and data center performance in the second and third quarters of this year is expected to benefit from strong demand for AI-related computing and networks. The momentum from the AI ecosystem and product launches such as the H200 and Spectrum-X also supports this outlook.

Guo Mingyi, an analyst at Tianfeng International Securities, released a forecast update stating that Nvidia's next-generation AI chip R series/R100 AI chip may be mass-produced in the fourth quarter of 2025, and the system/rack solution is expected to be mass-produced in the first half of 2026. He said that the R100 will use TSMC's N3 process and Cowos-L package, and is expected to be equipped with 8 HBM4s.

3.$Shopify (SHOP.US)$After the results, it plummeted by more than 18%. Overnight options traded at 410,000, a fivefold increase from the average daily turnover, and the bearish ratio rose to 51%. PUT, which expires on May 17, had the highest trading volume with an exercise price of $80, with 21,000 orders and nearly 4,000 unclosed positions. Also, earn 6 times the option premium in a single position that expires on Friday with an exercise price of $64-68.

Shopify's revenue for the first quarter was US$1,861 million, up 23.41% year on year, with market expectations of US$1,847 million; net loss was US$273 million, or loss per share of $0.21, while net profit of US$68 million was recorded in the same period last year, or US$0.05 per share. The company expects gross margin for the second quarter to drop by about 50 basis points from the first quarter as operating expenses grow by low to medium single-digit percentages.

1. US stock options trading list

II. ETF options trading list

III. Implied Volatility of Individual Stocks (IV) Ranking

Risk warning

An option is a contract that gives a holder the right, but no obligation, to buy or sell an asset at a fixed price on or at any time prior to that date. The price of an option is affected by a number of factors, including the underlying asset's current price, exercise price, expiration time, and implied volatility.

The implied volatility reflects the market's expectations for options to fluctuate over a period of time to come. It is data inverted by the options BS pricing model, and is generally viewed as an indicator of market sentiment. When investors anticipate greater volatility, they may be more willing to pay higher options to help hedge risks, leading to higher implied volatility.

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

Disclaimers

This content does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments. The risk of losing money when trading options can be extremely high. In some cases, you may lose more than the amount of your initial deposit. Even if you set backup instructions, such as “stop corrosion” or “limit price” instructions, you may not be able to avoid losses. Market conditions may make such instructions unenforceable. You may be asked to deposit an additional security deposit within a short period of time. If you fail to provide the required amount within the specified time, your open positions may be closed. However, you are still responsible for any shortfall in your account as a result. Therefore, you should study and understand options before trading, and carefully consider whether this type of trading is suitable for you based on your financial situation and investment goals. If you trade options, you should be familiar with the procedures for exercising options and when they expire, as well as your rights and responsibilities when you exercise options and when they expire.

editor/tolk