To The Moon

$NVIDIA(NVDA)$

A combination of pre-positioning for macro tailwinds on Friday and Jensen Huang's speech on Tuesday has created a strong rebound momentum.

The institutional spread range for Friday was 190～197.5: sell $NVDA 20251031 190.0 CALL$ , buy $NVDA 20251031 197.5 CALL$ . However, a continued rebound to 195 or even higher towards 200 cannot be ruled out, as there's a 200-210 spread set up for next week. It depends on what Jensen Huang says in his speech tomorrow.

The lower bound is viewed around 185: $NVDA 20251031 185.0 PUT$ 

$Tesla Motors(TSLA)$

Continues within its usual choppy range. This week, we can continue collecting premium from both sides: sell call $TSLA 20251031 480.0 CALL$ , sell put $TSLA 20251031 420.0 PUT$ 

$SPDR S&P 500 ETF Trust(SPY)$

Judging from the preliminary talks over the weekend, the two countries likely reached a basic consensus, with disagreements seeming minor. Now it's just waiting for the two leaders to meet.

Generally, there's a tendency for a pullback around late October.

$Advanced Micro Devices(AMD)$

On Friday, institutions were selling calls at 265 $AMD 20251031 265.0 CALL$  and 260 $AMD 20251031 260.0 CALL$ , hedging by buying 275 $AMD 20251031 275.0 CALL$  and 285 $AMD 20251031 285.0 CALL$ .

For selling puts, consider tracking today's large order: $AMD 20251031 237.5 PUT$ 

$Micron Technology(MU)$

Memory chip prices have been rising consistently, providing a driver for the stock price. However, concentrated option open interest at 225 creates some resistance $MU 20251031 225.0 CALL$ . For selling puts, 200 is an option $MU 20251031 200.0 PUT$ .

$Apple(AAPL)$

Apple also isn't given high expectations this week. The stock price will likely stay below $AAPL 20251031 270.0 CALL$ , but the probability of falling below 250 is very low. Consider selling puts: $AAPL 20251031 250.0 PUT$ 

There is a large long-dated put sell order: $AAPL 20251219 230.0 PUT$ 

$Intel(INTC)$

Breaking through 40 is the key question. Currently, put selling leans towards 35, like the large orders $INTC 20251219 35.0 PUT$  $INTC 20260918 35.0 PUT$ .

While it's unclear when it will rise, the current bias is that further downside is limited.

$Alibaba(BABA)$

The target price is 200, making it very suitable for selling puts.

This week's institutional spread strategy is sell 180 $BABA 20251031 180.0 CALL$ , buy 187.5 $BABA 20251031 187.5 CALL$ .

For selling puts, consider strikes below 170: $BABA 20251031 170.0 PUT$ 

Additionally, there's a large long-dated call spread 200-240: buy $BABA 20251219 200.0 CALL$ , sell $BABA 20251219 240.0 CALL$ 

$Microsoft(MSFT)$

Earnings expectations are decent. The institutional spread strike prices involve selling 540 and hedging by buying 562.5 $MSFT 20251031 540.0 CALL$  $MSFT 20251031 562.5 CALL$ . For a safer put sell, consider $MSFT 20251031 505.0 PUT$ .

$Alphabet(GOOGL)$

Earnings are this week. This quarter's EPS expectations are poor due to a fine. The institutional sell call spread strategy, with its strike prices, anticipates relatively low post-earnings movement, selling 265 $GOOGL 20251031 265.0 CALL$  and 267.5 call $GOOGL 20251031 267.5 CALL$ , hedging by buying 275 and 280 calls $GOOGL 20251031 280.0 CALL$ .

Also worth noting, a large bearish order appeared today: $GOOG 20260417 250.0 PUT$ , volume 10k contracts, premium close to $15 million.

$Amazon.com(AMZN)$

Earnings are this week. The market hasn't set high expectations. The institutional spread strategy involves selling 230 and 232.5 calls $AMZN 20251031 230.0 CALL$ , hedging with 240 and 242.5 calls $AMZN 20251031 240.0 CALL$ .

No wonder the market expectations are low. I think the biggest earnings risk is management's commentary – sometimes nothing's wrong, but their stated outlook can be overly unrealistic.

$Oklo Inc.(OKLO)$

A large order closed: $OKLO 20251219 95.0 CALL$ , and rolled to open a long-dated 150 call: $OKLO 20270115 150.0 CALL$ 

It's noteworthy that a large order on Sept 22nd $OKLO 20251121 95.0 CALL$  was also rolled once, opening the same $OKLO 20270115 150.0 CALL$  option. So currently, the long-dated large orders are very concentrated.