【December 9th US Stock Options Leaderboard】

JOLTS data continues to show a cooling job market, with the market betting on future interest rate cuts, and overall sentiment in risk assets is relatively warm; Bitcoin rebounded to around 94,000, also driving a number of high-elasticity stocks to be active.

$Marriott International (MAR)$​ stock price fell from above 300 dollars to over 280 within a week, a retracement of about 7%. Previously, the company lowered its guidance for US RevPAR to the lower end of the range, but Bonvoy's survey showed that 91% of Americans plan to travel in 2026, indicating that the fundamentals are "softening in the short term, but still optimistic in the long term." Call trading volume was 136 million, with calls accounting for 100%. Large orders were concentrated in 26/01 240C and 26/03 270C, with a neutral direction, resembling institutions using long-term calls to establish structured positions.

👉 Strategy: Bullish but do not chase prices; consider using a slightly out-of-the-money bull call spread (buy 240C, sell higher strike price) or a small position “sell Put buy Call” for risk reversal, earning time value, and avoid going all-in on short-term options.

$Tesla (TSLA)$​ rose from over 430 to around 445 dollars within a week, still within the rising channel since November; the company is launching year-end zero down payment incentives to clear inventory while emphasizing improvements in production processes and increasing investments in AI/FSD and robotics. The market still has imagination about the 2026 outlook. Today, call trading was about 41 million dollars, accounting for 63%, with a net purchase of over 2.5 million dollars (B:S≈3.2:1), a typical flow of “buying on dips during a correction.”

👉 Strategy: For those with spot positions, gradually sell medium to long-term calls around 470 for partial hedging; bullish but wary of volatility, use a 2-3 month bull call spread or a small risk reversal (sell slightly out-of-the-money Put, buy slightly out-of-the-money Call), and avoid going all-in on short-term options.

$Strategy (MSTR)$​ Bitcoin attacked again from around 90,000, with the company announcing yesterday the purchase of over 10,000 BTC, bringing total holdings to over 660,000. The stock price rebounded from the low of 155 dollars at the beginning of this month to around 190 dollars, but overall this year still saw a deep retracement. Investment banks cut their target price by nearly 60% while maintaining a “buy” rating, a typical high beta speculative stock.

👉 Strategy: Those looking to be bullish on BTC + MSTR are better suited to use a 3-6 month bull call spread or a small straddle (buy Call + Put) to trade volatility; it is not recommended for retail investors to naked sell Puts or heavily invest in short-term options.