U.S. stocks closed lower on Wednesday. The Dow Jones Industrial Average fell 1.21% to 50,687.07 points; the Nasdaq Composite dropped 0.89% to 26,853.98 points; and the S&P 500 Index slipped 0.74% to 7,553.68 points.
Total options market volume reached 59,235,913 contracts, with call options accounting for 62%.
Top 10 Option Volumes
Most big‑name tech stocks fell: Nvidia and Microsoft dropped over 3%, Amazon fell more than 2%, and Google slipped nearly 1%.
In the options market, Nvidia options volume hit 3.48 million contracts, with particularly heavy trading in the June 3 expiry $217.50 strike call options, seeing 319,814 contracts change hands.
In the options market, Microsoft options volume hit 950,000 contracts, with particularly heavy trading in the June 3 expiry $430 strike call options, seeing 62,001 contracts change hands.
$MetaPlatforms(META)jumped over 4% overnight, with options volume hitting 910,000 contracts. June 3 expiry $620 strike call options saw particularly heavy volume, with 73,465 contracts changing hands.
$MetaPlatforms(META) is considering pricing its new consumer-facing OpenClaw AI agent tool at up to $200 per month. The product, tentatively named Hatch, will adopt a tiered pricing model, with the premium subscription tier set at $199.99/month.
Hatch features broad functionality: it can write custom software on demand, create events in users' calendars, and send emails on their behalf. With the launch of this paid premium version, Meta will enter direct competition with leading AI firms such as OpenAI and Anthropic.
Unusual Options Activity
$Broadcom(AVGO)dipped slightly overnight, with options volume hitting 560,000 contracts—1.8× its 90-day average. June 5 expiry $500 strike call options saw particularly heavy volume, with 24,989 contracts changing hands.
$Broadcom(AVGO)dropped over 13% in after-hours trading. For its fiscal second quarter ended May 3, 2026, net revenue topped $22 billion for the first time in a single quarter—slightly above analyst expectations, up ~48% YoY, with growth nearly 1.7× the prior quarter’s pace. Revenue from semiconductor solutions—directly benefiting from surging AI demand—jumped ~80% YoY. Adjusted non-GAAP EPS rose >50% YoY, both beating Wall Street forecasts.
For Q3, AI semiconductor revenue guidance is set at $16 billion, implying >2× YoY growth, but still ~7% below the consensus estimate. Broadcom’s CEO stated that full-year AI chip sales will reach $56 billion, roughly 3% below expectations. Looking ahead, Broadcom plans to deploy 1.3 GW of computing power for OpenAI by 2027 and roll out the first 1 GW batch for Meta in the second half of this year.
$MarvellTechnology(MRVL)rose over 3% overnight, with options volume hitting 490,000 contracts—3.6× its 90-day average. June 5 expiry $320 strike call options saw particularly heavy volume, with 22,667 contracts changing hands.
As of Wednesday’s close, the stock has logged its fifth consecutive session of gains, once again setting a new all-time high. During a COMPUTEX dialogue with Marvell Technology CEO Matt Murphy, Nvidia CEO Jensen Huang called the company “the next trillion-dollar company.” This follows Marvell’s strong earnings report and Nvidia’s earlier announcement of a $2 billion investment in the firm.
For its fiscal first quarter 2027, Marvell posted revenue of $2.418 billion, up 28% YoY, and raised its fiscal 2027 revenue guidance to approximately $11.5 billion and fiscal 2028 guidance to $16.5 billion. In fiscal 2026, revenue reached $8.195 billion, climbing 42% YoY, with non-GAAP gross margin hitting 59.0%.
Huang emphasized Marvell’s critical role in AI infrastructure, noting that networking and connectivity chips are vital to data centers and that AI spending is no longer solely dependent on GPUs. He highlighted Marvell’s strategic positioning in interconnects, switching, and custom silicon, which has led investors to assign the company a higher valuation multiple.
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