【July 29th US Stock Options Leaderboard】

$NVIDIA (NVDA)$ hit a new historical high of $179.38 during the day before closing down 0.7%, but the leaderboard shows that the sellers dominated with $141 million in bullish transactions. The reduction in positions at high levels corresponds with the previous substantial month-end Call swaps, suggesting that funds are securing profits after the positive news about "China's chip export relaxation" has been realized.

$UnitedHealth (UNH)$ saw its stock price drop 7.46% on earnings report day, while being surrounded by a flood of $580 million in Put options, with buyers netting $148 million and a Put:Call ratio as high as 197:1; among them, a single 08/470P insurance reached $166 million. Institutions may be hedging against uncertainties in healthcare costs and policies. Friends holding positions in the healthcare sector can consider deep OTM Put options for protection.

$ASML (ASML)$ only dropped 1.32% during the ex-dividend window, but the Put transaction volume soared to $197 million, with a net inflow of $5.09 million from buyers; multiple long-dated Put options at the 1100 strike indicate concerns about a downturn in the order cycle. The dual pressure of ex-dividend and the downturn in European semiconductor conditions has already been reflected in the implied volatility of options. Bear spreads or selling Calls for income are worth paying attention to.

The complete leaderboard is attached as a poster, let's break down the hedging logic behind it together!#OptionsFlow