Option Movers | Tesla & Oracle Options Signal Long-Term Bullish Conviction; Drops Offer Patience, Not Panic
Market Overview
U.S. stocks extended their slide on Tuesday (September 1st), as the global bond selloff deepened and crude prices spiked amid fading hopes for a near-term solution to the U.S.-Israeli war with Iran.
Regarding the options market, a total volume of 56,750,535 contracts was traded, of which 54% were call options.
Top 10 Option Volumes
Top 10: $NVDA(NVDA)$, $AAPL(AAPL)$, $TSLA(TSLA)$, $MU(MU)$, $VIX(VIX)$, $AMZN(AMZN)$, $META(META)$, $SPCX(SPCX)$, $INTC(INTC)$, $PCG(PCG)$
Source: Tiger Trade APP
$Tesla Motors(TSLA)$ Motors closed at USD 356.09, down 3.22%.
Despite the daily decline, large options activity carried a clearly bullish tilt. The most notable display was a $679,500.00 long-dated put sale at the $270.00 strike, paired with a $163,700.00 call purchase at the $400.00 strike. Both trades stood out in block flow and suggested institutional positioning for continued strength rather than defensive hedging into the close.
A PUT sale worth $679,500.00 was the largest displayed block, with 1,500 contracts traded in the December 18, 2026 $270.00 put. With TSLA referenced at $356.09, this strike sat out of the money, making the trade a moderately bullish expression. Selling an out-of-the-money long-dated put typically reflects willingness to buy the stock lower while collecting premium upfront, and it often signals confidence that TSLA can stay above $270.00 over time. The long-dated tenor also suggests a patient bullish stance rather than a short-term tactical bet.
Source: Tiger Trade APP
A CALL buy worth $163,700.00 was the other displayed large trade, consisting of 1,688 contracts in the September 11, 2026 $400.00 call. This strike was out of the money versus the $356.09 reference price, so the buyer was positioning for upside beyond current levels into expiration. As a single-leg call purchase, the trade is a clearly bullish directional bet with defined risk, indicating expectations for a meaningful advance in TSLA while using option premium to gain leveraged upside exposure.
Source: Tiger Trade APP
Unusual Options Activity
$Oracle(ORCL)$ finished the session at $141.32, a 5.23% decline.
Despite the sharp drop, large options activity skewed decisively bullish. The most prominent trades included a $1.20 million out-of-the-money put sale at the $105.00 strike, expiring in October 2026, and a bullish call spread in December 2026 between the $200.00 and $240.00 strikes with a net debit of $804,000. This combination suggests institutional traders view the pullback as an opportunity, positioning for longer-term recovery while underwriting downside risk at much lower levels.
A bullish call spread with a net debit of $804,000 was the largest displayed multi-leg trade, built by buying 4,000 December 18, 2026 $200.00 calls and selling 6,000 December 18, 2026 $240.00 calls, with both strikes out of the money versus the $141.32 reference stock price. As a spread strategy, this is a defined-risk bullish directional bet financed partly by the short higher-strike calls, and the net debit shows the trader was willing to pay premium for upside exposure while capping gains above $240.00. The structure points to a constructive long-term view on ORCL, with the trader targeting appreciation into late 2026 rather than seeking immediate downside protection or premium harvesting.
Source: Tiger Trade APP
A put sale worth $1.20 million in the October 16, 2026 $105.00 strike was the largest displayed single-leg trade, with 11,040 contracts sold at an out-of-the-money strike. Because the strike sits well below the current $141.32 stock reference, this trade expresses a moderately bullish to neutral-bullish stance: the seller is effectively betting ORCL will remain above $105.00 through expiration, aiming to collect premium and potentially accept stock exposure only on a substantial decline. Overall, the large-trade flow leans bullish on ORCL, as the featured activity combines upside-seeking call-spread positioning with aggressive out-of-the-money put selling, suggesting traders are comfortable underwriting downside risk while still positioning for longer-term appreciation.
Source: Tiger Trade APP
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