Wall Street stocks finished lower on Thursday(Mar 6), with the Nasdaq confirming it has been in a correction since December, weighed down by market jitters over the current uncertainty surrounding U.S. trade policy.

Regarding the options market, a total volume of 56,693,864 contracts was traded on Thursday.

Top 10 Option Volumes

Top 10: NVDA; TSLA; PLTR; AAPL; MSTR; AMZN; Broadcom; SUPER MICRO COMPUTER INC ; Marvell Technology ; Advanced Micro Devices

Source: Tiger Trade App

Electric-vehicle maker Tesla, meanwhile, was down 5.6% after closing with a gain of 2.6% in the previous session. Tesla sales have been declining across the globe as anger grows over the political activities of CEO Elon Musk.

A total number of 2.81M options related to Tesla Motors was traded on Thursday, up 42% from the previous trading day, of which 51% were call options. A particularly high trading volume was seen for the $260 strike put option expiring Mar 7 2025, with a total number of 105,162 option contracts traded as of Thursday. $TSLA 20250307 260.0 PUT$

Unusual Options Activity

Source: Market Chameleon

Broadcom’s stock rose about 12% in premarket trading. Sales will be about $14.9 billion in the three-month period ending May 4, Broadcom said in a statement Thursday. Analysts had estimated $14.6 billion on average, though some projections surpassed $15.1 billion.

A total number of 643.98K options related to Broadcom was traded on Thursday, up 187% from the previous trading day, of which 55% were call options. A particularly high trading volume was seen for the $200 strike call option expiring Mar 7 2025, with a total number of 25,303 option contracts traded as of Thursday.$AVGO 20250307 200.0 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 bought a net equivalent of 4,210,234 shares of BAC stock. The largest bullish delta came from buying calls. The largest delta volume came from the 21-Mar-25 Call, with traders getting long 1,956,263 deltas on the single option contract.

Top 10 bullish stocks: BAC, AAPL, PARA, WDC, MRK, GM, NEM, BA, INTC, MO

Top 10 bearish stocks: NVDA, TSLA, AMZN, CRM, PEP, PFE, GOOGL, GILD, ENPH, NFLX

Source: Market Chameleon

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