Wall Street's main stock indexes closed sharply lower on Monday(Mar 3) after President Donald Trump announced the start of 25% tariffs on Canada and Mexico, with the S&P 500 posting its biggest daily percentage decline since December 18.

Regarding the options market, a total volume of 55,104,719 contracts was traded on Monday.

Top 10 Option Volumes

Top 10: NVDA; TSLA; Cboe Volatility Index ; PLTR; Intel; AAPL; MSTR; AMZN; SMCI; AMD

Source: Tiger Trade App

Wall Street's fear gauge jumped Monday after President Donald Trump confirmed that tariffs on Canada and Mexico will take effect. The Cboe Volatility Index, or VIX, climbed to 22.78 on Monday. That is its highest closing level since the day after the Federal Reserve's December meeting, when the central bank's wait-and-see stance on interest rates sparked a stock selloff.

A total number of 1.16 million options related to Cboe Volatility Index was traded on Monday, up 25% from the previous trading day.

Unusual Options Activity

Source: Market Chameleon

Intel shares fell 4.2% following a Reuters report that said chip designers Nvidia and Broadcom both were running tests on Intel's 18A manufacturing process. Intel repeatedly has claimed that its 18A process was poised to give it a technological lead in chip manufacturing against dominant rival Taiwan Semiconductor Manufacturing.

A total number of 772.9K options related to Intel was traded on Monday, of which 73% were call options. A particularly high trading volume was seen for the $30 strike call option expiring Mar 21 2025, with a total number of 54,316 option contracts traded as of Monday. $INTC 20250321 30.0 CALL$

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 sold a net equivalent of -3,128,116 shares of NVDA stock. The largest bearish delta came from selling calls. The largest delta volume came from the 07-Mar-25 Call, with traders getting short 1,209,918 deltas on the single option contract.

Top 10 bullish stocks: C, CZR, INTC, T, LRCX, GM, NEM, NCLH, UAL, BKR

Top 10 bearish stocks: NVDA, F, AMD, PG, SMCI, AAPL, AMZN, CVX, GOOGL, KO

Source: Market Chameleon

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