Option Intelligent Investment Report: Semiconductors pick up before the market opens. MSTR’s new capital framework helps stock prices continue to rebound
Opportunity-forward storage stocks rose simultaneously before the market opened. SanDisk rose 4.25%, Western Digital rose 4.26%, and Micron Technology rose 3.0%. The core catalyst for the market comes from industry price increase expectations: multiple media sources show that storage leader Samsung Electronics has started Q3DRAM contract price negotiations in 2026, and plans to increase the average product price by up to 20% month-on-month.
Storage stocks rose simultaneously before the market opened, with SanDisk rising 4.25%, Western Digital rising 4.26%, and Micron Technology rising 3.0%. The core catalyst for the market comes from industry price increase expectations: multiple media sources show that storage leader Samsung Electronics has started DRAM contract price negotiations for Q3 2026, and plans to increase the average product price by up to 20% month-on-month. The storage sector has been intensively catalyzed this week, and short-term prosperity verification windows and capital events have been implemented one after another: Samsung will disclose the first version of its second-quarter results on July 7, and the market predicts that its second-quarter operating profit will increase significantly year-on-year. The triple logic of AI-driven storage demand, chip supply shortage, and product price increases will jointly boost profits. This performance will also become a key signal to measure the prosperity of the memory industry in the short term; at the same time, SK Hynix is advancing the listing of a US$28 billion U.S. ADR, and is expected to officially land on the U.S. stock market this Friday. From the perspective of technology and options, many indicators of Micron Technology have entered the oversold range, and there is momentum for oversold recovery in the short term; however, the stock's implied volatility is at a high level, with the IV value reaching 115.49% on July 2. The volume of put options traded is higher than that of call options, reflecting the market's prediction that stock price fluctuations will intensify, and funds generally use put options to hedge downside risks. The semiconductor equipment sector strengthened simultaneously before the market opened. Applied Materials rose 4.14%, Lam Group rose 4.37%, Kelei rose 4.16%, and the triple long semiconductor ETF-Direxion rebounded by more than 8%. Long-term fundamental support comes from the continued increase in high-end HBM production capacity by global storage manufacturers: Micron has finalized the expansion project of its Hiroshima factory in Japan, with a total investment of US$9.3 billion. The production line focuses on AI core HBM advanced memory chips. It is expected to achieve mass production and delivery in the summer of 2028. The project can receive up to 500 billion yen in supporting subsidies from the Japanese government; Samsung and SK Hynix are also simultaneously promoting the expansion of storage production capacity. The collective expansion of production by leading companies has locked in the long-term demand for the AI track, and it has also been confirmed that high-end HBM will maintain a tight balance between supply and demand in the medium and long term, supporting the bottom of the price of memory chips. The prosperity of the entire industry chain will increase, and upstream semiconductor materials and equipment will continue to benefit. On July 2, Eastern Time, the trading volume of the U.S. stock index options market increased, with a total of 7.06 million contracts traded. The put/call turnover ratio increased to 0.97. Strategy closed up 7.90%, with 831,700 options contracts traded, and the put/call volume ratio dropped to 0.50. Strategy launched a new capital management framework that allows Bitcoin sales and stock repurchases, and the stock price continued to rebound. The new capital management framework allows companies to sell up to approximately $1.25 billion in Bitcoin to replenish U.S. dollar reserves, pay preferred stock dividends, support debt/interest expenses, or cooperate with share repurchases. Tesla closed down 7.49%, with 4.5868 million options contracts traded, and the put/call volume ratio rose to 0.78. Tesla delivered 480,000 vehicles globally in the second quarter, a year-on-year increase of 25% and a record high. Options trading volume rankings Among the top 10 stocks by options volume, Micron Technology has the highest put/call volume ratio at 1.17. Micron Technology announced an investment of US$250 million in Trump's account, and at the same time faced concerns about the AI bubble, which caused the stock price to fall continuously. The highest put/call position ratio is Micron Technology, reaching 1.41. The top ten stocks by trading volume: The top ten indices by trading volume: Introduced volatility ranking (underlying market value > 1 billion US dollars, and option trading volume > 100,000) Bloom Energy has the highest implied volatility, reaching 144.85%, an increase of 2.83% from the previous trading day. Bloom Energy and Brookfield's AI data center fuel cell cooperation expanded from US$5 billion to US$25 billion, and UBS raised the target price to US$350. SanDisk's implied volatility increased the most, reaching 130.32%, an increase of 12.38% from the previous trading day. SanDisk's stock price fell by more than 20% for two consecutive days, affected by profit taking in AI-related stocks and concerns about supply competition in China. (