Earnings season is in full swing, and the options tape is absolutely on fire. Host Mark Longo breaks down a massive day of paper, where it took over 671,000 contracts just to crack the Top 10. From Meta's massive post-earnings "lottery ticket" winners to Microsoft's tumble into the "dark side," we examine the strikes and flows defining the market on this action-packed Thursday. Plus, a look at Apple's after-hours movement following its Q1 revenue beat and why Tesla is back in the #1 spot despite a rough day for shareholders.
Tesla (TSLA): Reclaims the #1 spot with 2.79M contracts. We dive into the $420 puts as the stock slips nearly 3.5% post-earnings.
Nvidia (NVDA): A rare drop to #2 despite 2.54M contracts. Is the $192.50 call paper looking for a Friday payday?
Microsoft (MSFT): The "dark side" prevails after earnings, with a 10% sell-off. We track a massive 100,000-lot butterfly spread targeting December.
Meta (META): A spectacular win for the bulls. Those $700 "lottery ticket" calls paid off big as the stock surged toward $740.
Apple (AAPL): Breaking down the $260 calls as the stock trends higher in the after-hours following a $143.8B revenue report.
Palantir (PLTR): Returning to levels not seen since last summer. Are the $150 puts signaling more pain ahead?
MicroStrategy (MSTR): Taking it on the chin with a 10% drop. Was the $167.50 call flow a brave rebound play or just lighting money on fire?
| Rank | Symbol | Volume | The "Hot" Option | Price/Context |
| 1 | TSLA | 2.79M | $420 Puts | Nearly 100k contracts; price ~$4.93 |
| 2 | NVDA | 2.54M | $192.50 Calls | 211k contracts; eyes on tomorrow's close |
| 3 | MSFT | 2.34M | $575 Calls | Part of a massive Dec. butterfly spread |
| 4 | META | 1.42M | $750.50 Calls | Bulls sweating as stock hits $744 high |
| 5 | PLTR | 1.14M | $150 Puts | 53k contracts; stock hit low of $147.12 |
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