1. $SPY spot is $749.57 and the $750 puts are running 42x over OI into today's expiry, 635k contracts, with the $749 puts right behind at 79x. That's not a directional bet, that's the crowd pinning at $750. P/C is 1.16, mild put lean overall, but the real story is the vol/OI ratios. Watch $750 into the bell.
2. Spot slipped to $203.95 but 314k contracts are sitting on the $210 calls expiring today, 25x over OI, at 57% IV. The crowd didn't back off after the pullback. If you're selling covered calls into that vol, the juice is real. If $210 doesn't get reclaimed before the close, those expire worthless and we keep collecting from lower.
3. $MU spot is $928.24 and the $950 calls are running 81x over OI today, the $930 calls at 105x, IV ranging 42-55% across all four top contracts, which are all calls. P/C is nearly flat at 0.97, so the balance looks neutral on paper, but the actual contract action is an aggressive OTM chase. Could be rolls, could be lottery tickets on continuation. Watch $930-$950 if this thing gets legs.
Aggregated and distilled by Two Sentence Traders. Not financial advice.