Option Movers | Meta's Volume Jumps 396% on Plans to Sell Excess AI Compute Capacity; CoreWeave's $90 Call Drops 94% as Meta News Pressures AI Cloud Peers

Option Movers07-02 11:55

Market Overview

U.S. stocks finished slightly ​lower on ​Wednesday (July 1) as technology shares fell, but gains in Meta Platforms limited the decline in the S&P 500 and Nasdaq.

Regarding the options market, a total volume of 63,916,283 contracts was traded, up 15% from the previous trading day.

Top 10 Option Volumes

Top 10: TSLA, NVDA, META, AAPL, MSFT, MU, AMZN, PLTR, SPCX, INTC

Source: Tiger Trade App

Microsoft shares rose 3.02% to $384.28 on Wednesday after consumer health company Haleon announced a new five-year agreement to expand its use of Microsoft's artificial intelligence, cloud, and data technologies across its global operations.

There are 1.17M Microsoft option contracts traded on Wednesday, up 2239% from the previous trading day. Call options account for 77% of overall option trades, reflecting robust bullish sentiment across the market. Particularly high volume was seen for the $390 strike call option expiring July 1, with 89,259 contracts trading. MSFT 20260701 390.0 CALL

Palantir Technologies rose 7.77% to $125.73 on Wednesday as the company announced it had entered into a new strategic initiative with Nvidia to build custom artificial intelligence models for the U.S. government.

There are 860.56K Palantir Technologies option contracts traded on Wednesday, up 168% from the previous trading day. Call options account for 70% of overall option trades. Fueled by pervasive bullish market sentiment, particularly high volume was seen for the $125 strike call option expiring July 2, with 47,032 contracts trading. PLTR 20260702 125.0 CALL

Unusual Options Activity

Source: Market Chameleon

Meta Platforms advanced 8.8% to $612.91 on a report it plans to build a cloud business to sell excess artificial-intelligence computing capacity. Meta hopes to generate revenue from selling excess computing power to third parties, Bloomberg reported.

There are 1,525,686 Meta option contracts traded on Wednesday, up 396% from the previous trading day. Call options account for 73% of overall option trades, reflecting robust bullish sentiment across the market. Particularly high volume was seen for the $620 strike call option expiring July 1, with 54,632 contracts trading. META 20260701 620.0 CALL

CoreWeave sank 13.92% to $85.69 as the Meta news put pressure on the so-called neoclouds that are also in the business of selling AI computing power.

There are 414,587 CoreWeave option contracts traded on Wednesday, up 158% from the previous trading day. Call options account for 62% of overall option trades. Particularly high volume was seen for the $90 strike call option expiring July 2, with 19,244 contracts trading. CRWV 20260702 90.0 CALL

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