To The Moon

Market Overview

Wall Street rallied on Thursday (September 3), as investors ​curbed their rate hike bets after U.S. Federal Reserve Governor Christopher Waller said he would support holding the Fed funds target ‌rate steady if data shows inflationary pressures are abating.

Regarding the options market, a total volume of 65,938,249 contracts was traded, of which 59% were call options.

Top 10 Option Volumes

Top 10: $NVDA(NVDA)$, $TSLA(TSLA)$, $SPCX(SPCX)$, $AAPL(AAPL)$, $AVGO(AVGO)$, $MSTR(MSTR)$, $MU(MU)$, $PCG(PCG)$, $PLTR(PLTR)$, $HOOD(HOOD)$

Source: Tiger Trade APP

$Tesla Motors(TSLA)$ Motors closed at USD 376.37, up 5.42%.

The options tape featured a bullish synthetic long worth $7.10 million and a bearish call spread with a $1.09 million credit, showing mixed but constructive institutional positioning. The largest trade expressed conviction for higher long-term prices, while the second trade capped upside through September 2026.

A synthetic call position worth $7.10 million was the standout featured trade, created by buying the 420.0 call and selling the 360.0 put for the 2026-10-16 expiration. Both legs were out of the money versus the reference stock price of 376.37, and the structure carried a bullish tone. Because this is a buy-call plus sell-put combination, it represents a synthetic long stock view with upside participation and downside assignment risk, showing conviction that TSLA can trend higher over time. The trade also brought in a net credit of $527,000.00, which reinforces that the investor established a leveraged bullish stance while being paid upfront.

TSLA 20261016 420.0 CALL

TSLA 20261016 360.0 PUT

Source: Tiger Trade APP

A bear call spread with a net credit of $1.09 million was the other highlighted block, built by selling the 375.0 call and buying the 390.0 call for the 2026-09-04 expiration. The short 375.0 call was in the money while the long 390.0 call was out of the money, making this a defined-risk bearish call spread positioned for TSLA to stay below the upper strike or at least fail to rally materially in the near term. As a credit spread, the strategy points to premium collection with a bearish or capped-upside outlook, suggesting the trader expects resistance and limited near-term upside rather than an aggressive breakdown.

TSLA 20260904 375.0 CALL

TSLA 20260904 390.0 CALL

Source: Tiger Trade APP

Overall, the large-trade flow leans moderately bullish. The clearest reason is that the biggest directional expression among the displayed trades was a sizeable long-dated synthetic call, while the full bulk-order summary also finishes with a bullish edge. Even so, the tone is not one-sided: there is meaningful call overwriting and bearish call-spread activity in the broader tape, which implies that while institutions still see upside potential in TSLA, many are expressing that view selectively and with an expectation that gains may be uneven or capped in the short run.

Unusual Options Activity

$SpaceX(SPCX)$ closed at USD 149.74, up 6.42 percent from the prior session.

Despite the gain, the options tape flashed a decisively cautious institutional tone, punctuated by a USD 15.78 million bear put spread and a USD 4.93 million short call. Both large trades positioned for limited upside and potential deeper downside into 2027, suggesting that some sophisticated participants viewed the rally as an opportunity to add bearish exposure rather than chase strength.

A bear put spread with a net debit of $15.78 million was the largest displayed block and stands out as a clearly bearish directional wager. The trade involved buying 1,700 Sep. 17, 2027 $245.00 puts, which were in the money versus the $149.74 reference price, while simultaneously selling 1,700 Sep. 17, 2027 $110.00 puts, which were out of the money. As a same-expiration long-put/short-put spread, this structure caps downside payoff below the short strike but materially lowers the upfront cost versus an outright put purchase, signaling a defined-risk bearish view that SPCX could weaken meaningfully over time.

SPCX 20270917 245.0 PUT

SPCX 20270917 110.0 PUT

Source: Tiger Trade APP

A $4.93 million short call was the other highlighted large trade, consisting of the sale of 4,500 Jun. 17, 2027 $230.00 calls. With the strike well above the current reference price, the option was out of the money, making this trade a premium-collection position that also leans bearish to neutral, as the seller is effectively betting SPCX will remain below $230.00 into expiration or at least fail to rally enough to threaten the strike. The choice to sell long-dated upside exposure reinforces a view that substantial upside is unlikely in the medium term.

SPCX 20270617 230.0 CALL

Source: Tiger Trade APP

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