These 3 Unusually Active Mag 7 Calls Are Great Hail Mary Bets for Under $100

I was saying to a work colleague yesterday how fast the week has gone by; I can’t believe it’s already Friday. I guess a major global war has that effect. 

For golf fans (I’m one), this weekend is the Masters, the unofficial beginning of the spring/summer. Growing up, my dad would spend the Masters weekend watching on TV while cleaning his clubs to get ready for the season ahead—a wonderful memory, for sure.

In yesterday’s options trading, 57.2 million contracts were traded, about a million less than the 90-day average. Investors traded 1.2 times as many calls as puts. The top 100 stocks accounted for 83% of the volume. 

Analyzing the unusual options activity from Thursday, the Magnificent 7 call options stood out. The seven jumbo-cap tech stocks had 82 unusually active call options yesterday. I define them as options expiring in seven days or more, with at least 500 calls traded, and a Vol/OI (volume-to-open-interest) ratio of 1.24 or higher. 

Of the 82, 12 of them could be bought for $100 or less. These three make excellent Hail Mary bets to buy now.

Have an excellent weekend. 

Nvidia (NVDA)

Nvidia’s (NVDA) ask price of $0.58 was 0.32% of Thursday’s closing share price. 

In case you’re wondering, I’ve ordered the three by ask price as a percentage of the share price, from highest to lowest, with the rationale that the lower the percentage, the worse the odds of the Hail Mary being profitable.  

As you can see from the information above, there is a 9.59% chance that the share price on April 24 will be above the $198.08 breakeven. The expected move of $7.69 (4.18%) won’t even get you halfway there. 

Why bother?

According to MarketChameleon.com, the average of Nvidia’s 12 best single-day moves over the past three years is 8.8%; the best of the 12 was 18.7% on April 9. There is a possibility that NVDA could hit the breakeven by expiration, though it is small. 

The other thing working against it--Nvidia doesn’t report earnings until May 27, so there won’t be an earnings-driven catalyst. It would have to be something out of the blue that captures investors' attention. 

However, with a delta of 0.1147, you could double your money by selling to close the position before expiration if NVDA appreciates by $5.06 (2.7%). The last time it traded around $190 was late February. 

Tesla (TSLA)

Tesla’s (TSLA) ask price of $0.70 was 0.20% of Thursday’s closing share price. 

The EV maker’s $70 net debit is the highest outlay of the three Mag 7 calls. Its profit probability is nearly half of Nvidia’s at 5.37%. The 13.04% move to hit the $390.70 breakeven is about 2.7 times the expected move over the next 10 days. 

The good news is that Tesla reports Q1 2026 results on April 22, two days after the call expires. The company reported Q1 2026 deliveries on April 2. They were the weakest numbers over the past four quarters, so that bad news is already baked into the share price.

Down 23% in 2026, it will need an expected boost from elsewhere in its business. More certainty around its robotaxis might do the trick. Furthermore, analysts believe the SpaceX IPO could be the first step in Elon Musk’s plan to merge it with Tesla. While that won’t happen for some time, the scuttlebutt over the next week or so could help move the share price in the right direction.

Although Tesla is my least favourite of the Mag 7 stocks, the possibility of good news in the next 10 days, combined with a buy under $100, makes it a Hail Mary worth considering. 

Alphabet (GOOGL)

Alphabet’s (GOOGL) ask price of $0.55 was 0.17% of Thursday’s closing share price. 

While the profit probability isn’t much different than Tesla’s, I like Alphabet’s business a whole lot better. Sure, the company’s search business faces AI-induced headwinds, but it remains one of the better-managed tech companies in the U.S.

Earlier in April, Needham analyst Laura Martin discussed why Google’s lead in AI computing power through its in-house TPUs (tensor processing units).

“Google’s AI-chip lead is ‘a valuable hidden asset for [Google] shareholders that will drive upside to estimates over the next 24 months.’ Martin, who has a buy rating on Alphabet’s stock, has a price target of $400, representing upside of 31% from the stock’s closing price on Tuesday,” MarketWatch’s Britney Nguyen reported on April 8. 

This competitive advantage is just one reason why GOOGL stock has outperformed the Mag 7 over the past year. Up 109%, the analyst sees more gains over the next 12 months. 

Another reason to be bullish about Alphabet is Gemini, the company’s AI-focused answer to a potential demise in search revenue. It is currently testing ads included within Gemini’s AI-generated answers. In addition, it has attached sponsored links below the AI responses. The engagement level of Gemini’s 750 million monthly active users has been higher with these ads than with traditional search ads. 

You don’t generate $73 billion in annual free cash flow without having a trick or two up your sleeve. 

Of the three, I believe you have the best chance of making money from your Hail Mary. The April 24 $350 call has an expected move of $12.75 or 5.5% based on yesterday’s closing price. However, based on the 0.0640 delta, if the shares appreciate by $8.69 and you sell to close your call before expiration in two weeks, you’ll likely double your money. 

For $55, it’s the Hail Mary I would make.