The S&P 500 and the Nasdaq Composite both closed higher on Tuesday(Apr 1), after a topsy-turvy day on Wall Street dominated by investor angst ahead of the impending tariff announcements from the Trump administration.
Regarding the options market, a total volume of 39,986,548 contracts was traded on Tuesday.
Top 10 Option Volumes
Top 10: $TSLA(TSLA)$; $NVDA(NVDA)$; $PLTR(PLTR)$; $Cboe Volatility Index(VIX)$ ; $Amazon.com(AMZN)$ ; $AAPL(AAPL)$; $Intel(INTC)$ ; $Strategy(MSTR)$ ; $Meta Platforms, Inc.(META)$ ; $Microsoft(MSFT)$
Source: Tiger Trade App
Shares of electric-vehicle company $Tesla(TSLA)$ rose 3.6%. The stock closed with a loss of 1.7% on Monday and ended the first quarter down 36%, its worst first quarter on record, according to Dow Jones Market Data. Tesla is expected to release first-quarter delivery figures on Wednesday with Wall Street estimating about 380,000 vehicles. Analysts have been reducing their estimates, in part because CEO Elon Musk has received backlash from his close alignment with Trump and his position in the administration's Department of Government Efficiency.
A total number of 2.11M options related to $Tesla Motors(TSLA)$ was traded on Tuesday, of which 53% were call options. A particularly high trading volume was seen for the $280 strike call option expiring April 4, with a total number of 68,017 option contracts traded as of Tuesday. $TSLA 20250404 280.0 CALL$
Unusual Options Activity
Source: Market Chameleon
$Johnson & Johnson(JNJ)$ fell 7.6% after a bankruptcy judge in Texas dismissed the healthcare company's third attempt to resolve its mass talc liabilities through Chapter 11. The company faces sweeping litigation from accusations that its baby powder and other talc-based items harmed consumers.
A total number of 117,722 options related to $Johnson & Johnson(JNJ)$ was traded on Tuesday, up 66% from the previous trading day, of which 53% were put options. A particularly high trading volume was seen for the $145 strike put option expiring Jun 20, with a total number of 10,241 option contracts traded as of Tuesday. $JNJ 20250620 145.0 PUT$
TOP Bullish & Bearish Single Stocks
This report shows stocks with the highest volume of bullish and bearish activity by option delta volume, which converts option volume to an equivalent stock volume (bought or sold).
If we take the total positive option delta volume and subtract the total negative option delta volume, we will get the net imbalance. If the net imbalance is positive, there is more bullish pressure. If the net is negative, there is more bearish pressure.
Based on option delta volume, traders bought a net equivalent of 663,597 shares of $Citigroup(C)$ stock. The largest bullish delta came from buying calls. The largest delta volume came from the 19-Sep-25 67.50 Call, with traders getting long 608,258 deltas on the single option contract.
Source: Market Chameleon
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