Options Intelligent Investment Report: Tesla’s performance weakened sharply under pressure. Micron benefited from positive Tesla orders and rose before the market
Opportunities ahead: The Nasdaq 100 ETF-InvescoQQQTrust fell 0.7% before the market opened, and the S&P 500 ETF-SPDR fell 0.51% before the market opened. The current U.S. stock market is showing significant structural characteristics: the top 24 largest stocks in the S&P 500 account for more than 50% of the market value, and market concentration has set a new historical record; the index point continues to deviate from the market's rise and fall. This state has lasted for 52 trading days, benchmarking the level of the Internet bubble stage.
The Nasdaq 100 ETF-Invesco QQQ Trust fell 0.7% before the market opened, and the S&P 500 ETF-SPDR fell 0.51% before the market opened. The current U.S. stock market is showing significant structural characteristics: the top 24 largest stocks in the S&P 500 account for more than 50% of the market value, and market concentration has set a new historical record; the index point continues to deviate from the market's rise and fall. This state has lasted for 52 trading days, benchmarking the level of the Internet bubble stage. External and policy-level pressures are emerging simultaneously: geopolitical tensions in the Middle East have pushed up international oil prices to $88, market expectations for the Federal Reserve to raise interest rates have increased, and the 10-year U.S. Treasury yield is approaching the high of the year. In terms of options sentiment, the SPY put/call volume ratio fell back to 1.27 on the previous trading day, and the implied volatility (IV) was 16.68%. Micron Technology rose 2.01% before the market opened. The positive catalyst came from Musk's public statement thanking Micron for providing stable and reasonable chip quotas during the period of shortage of memory chip supply. Options data shows that the stock’s put/call volume ratio dropped to 1.03, and its implied volatility is as high as 108.62%, indicating that the stock price will fluctuate significantly in the future. Tesla fell sharply 6.74% before the market opened. The company disclosed its financial report after the close yesterday. Revenue increased by 26% year-on-year, but profit fell by 18% year-on-year, which was lower than market expectations. In terms of options, the stock's put/call trading volume ratio is 0.78, and the implied volatility is 52.86%; the market predicts that the stock price may remain moderately volatile, and the long-short differences remain prominent. NVIDIA fell slightly by 0.79% before the market opened. Progress is coming at the industrial level. The Vera Rubin NVL72 platform has been officially put into production, and the company is working with multiple cloud service providers to promote implementation. Options trading is biased towards the long side, with the put/call volume ratio falling back to 0.52, and the implied volatility being 42.01%. Among the options expiring on July 24, 2026, the call option with an exercise price of $215 had the highest trading volume, with an increase of 180.36%. On July 22, Eastern Time, the trading volume in the U.S. stock index options market declined, with a total of 5.24 million contracts traded. The put/call trade ratio increased to 1.07. For the upcoming expiration date, the S&P 500 options volume distribution shows the following characteristics: put volume peaks at 7,500 points, and call option volume peaks at 7,500 points. Super Micro Computer closed up 19.84%, with 746,700 options contracts traded, and the put/call volume ratio rose to 0.32. Super Micro Computer released its fourth-quarter performance forecast, with its gross profit margin expected to rise significantly from 8.2%-8.4% to 15%-17%, and new orders exceeding US$60 billion. SpaceX closed down 6.70%, with 745,000 options contracts traded, and the put/call volume ratio dropped to 0.73. SpaceX's stock price has fallen nearly 50% since its IPO, and Morgan Stanley predicts that the company will not achieve positive free cash flow until 2035. Options trading volume rankings Among the top 10 stocks by options volume, Micron Technology has the highest put/call volume ratio at 1.03. Musk thanked Micron Technology for providing Tesla with a "considerable" memory chip quota and obtaining reasonable supply conditions in a market environment of tight supply and high prices. The highest put/call position ratio is Micron Technology, reaching 1.31. 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 180.69%, down 1.95% from the previous trading day. JPMorgan raised its price target on Bloom Energy from $267 to $346 and maintained a buy rating. SpaceX’s implied volatility increased the most, reaching 109.54%, an increase of 6.08% from the previous trading day.