[November 25, US Stock Options Leaderboard]

The market continues to rebound, with the S&P 500 up 0.91%, the Nasdaq up 0.67%, and the VIX falling from above 20 to around 18.5. Sentiment has shifted from last week’s "panic acceleration" back to a "cautiously optimistic" stance, overall still betting on peak interest rates + year-end market trends.
$LULU Lemon ( LULU )$ has been once again recommended by brokerages, supported by a target price of 300 USD, and the stock price rose nearly 5% intraday, closing around 177 USD. The previously lagging "high valuation consumption" is starting to attract attention again. However, the Put trading volume on the Dragon and Tiger list reached 198 million USD, with Put accounting for 99.8%. The largest single trade was a nominal 1.27 billion for a 540P in January 26, with the transaction occurring at a mid-price, resembling a strategy where large funds buy on the rebound while using long-term Puts to manage tail risk. Strategy: Bullish but not wanting to bear the full decline, one can refer to institutions doing bull market Put spreads (selling slightly out-of-the-money Puts and buying deeper out-of-the-money Puts), earning time value while capping extreme market losses.
$Oracle(ORCL)$ The intraday decline approached 2%, closing near $197, primarily due to DA Davidson reducing the target price from $300 to $200, causing the market to reassess the value of its cloud/AI orders and expectations for OpenAI contracts. On the leaderboard, ORCL Put transaction volume was $223 million, with Puts accounting for over 99%, but the active direction was neutral, indicating a mix of protective buying and opportunistic selling of insurance to collect premiums, rather than a one-sided panic. Strategy: If you already have a relatively heavy position, you can use slightly out-of-the-money protective Puts or Put spreads for 1-3 months to dampen volatility; for those looking to "buy the dip," it is advisable to reduce leverage and avoid going all in on short-term Options based on news.
$Tesla(TSLA)$ rose nearly 7% yesterday, and today it is up to around $419, a small gain continuing its momentum, with FSD narrative + target price adjustment (some brokerages see $525) continuing to support sentiment. However, the options market shows a different picture: TSLA Call trading volume is $111 million, with Calls accounting for about 61%, yet there was a net sell of $84 million, with the largest single order being 440C for February 26, 2026, also actively sold, mostly writing Calls at high levels to lock in profits / sell volatility. Strategy: For those holding the underlying stock, a small position in slightly out-of-the-money short-term Calls can be sold to create a covered call; for those without positions but wanting to be bullish, using a mid-term Call spread is more suitable instead of far out-of-the-money long Calls, which offers higher error tolerance. #OptionsFlow