[November 24th US Stock Options Leaderboard]

$TSMC (TSM)$ closed up about 3.5% today, continuing to oscillate in a high range with an increase of nearly 40% this year. On the leaderboard, the Call transaction volume was about $285 million, accounting for over 98%, with large orders concentrated on February 26 for the 250 / 280 C, almost entirely active buying. Coupled with the high prosperity of Q3 revenue growing over 40% year-on-year, and the latest news surrounding the US-Korea and US chip tariff negotiations, it appears more like long-term funds using LEAPS to lock in AI production growth for the next 1-2 years. Strategy: For those optimistic about the long term but wary of pullbacks, consider replacing heavy stock purchases with 1-2 year slightly in-the-money / small out-of-the-money Calls or bull spreads, keeping the leverage position of a single stock at a small percentage of total assets.
$Microsoft (MSFT)$ has pulled back from above 500 to around 470 over the past week, with a slight increase of about 0.4% on Monday, which seems to temporarily stop the decline. On the options side, both Call and Put trading volumes are over 100 million dollars, with significant active buy orders for the 480 C expiring in February 2026, indicating that some funds are treating this pullback as a long-term accumulation window, while Put options are more about "downside protection." Strategy: For a medium to long-term approach, it’s advisable to use slightly in-the-money LEAPS Calls or Call spreads expiring around 2026 as the core bullish position; for short-term trading, it’s more suitable to use covered calls / light Put spreads for "limited downside" range trading, rather than continuing to go all-in on long Calls.
$Meta Platforms (META)$ Supported by advertising + AI expectations, the stock price has recently rebounded from its adjustment low, rising about 3% to around $613 on Monday, with some investment banks giving an optimistic view of about 30% upside potential and a target price of $800. However, the Put transaction volume on the Dragon and Tiger list is about $103 million, accounting for nearly 80%, combined with negative news about US lawmakers requesting regulatory agencies to investigate its high-risk fraud advertising revenue, it resembles institutions participating in the rebound while buying insurance to lock in profits. Strategy: Those who are bullish but concerned about regulatory black swan events are more suitable to use 3–6 month protective Puts or Put spreads to hedge their long stock / long Calls; for those looking to buy on dips, they can sell slightly out-of-the-money Puts in small positions to exchange for chips, but sufficient margin should be reserved. #OptionsFlow