Investor activity has surged around major technology stocks, particularly Alphabet Inc. (GOOGL) and Nvidia Corporation (NVDA), amid a broader market rally. Alphabet has seen substantial call option buying, including a notable $1 million purchase signaling confidence in further price gains. A trader recently realized a $550,000 profit on $10.8 million invested in December 2025 $GOOGL calls. Nvidia's market capitalization has increased by over $1 trillion since its April low, with a 36% rally in the past month. Nvidia and Tesla Inc. (TSLA) have led short sellers to incur losses exceeding $250 billion since April 8, with Tesla shorts alone losing nearly $9.74 billion. The Magnificent 7 tech stocks contributed to a $36 billion loss for short sellers amid the rally. Option trading activity remains elevated, with significant volume in Nvidia, Tesla, Intel Corporation (INTC), and Alphabet options. Despite Nvidia shares dipping 0.71% to $131.89, option traders show moderate bearish sentiment with a put/call ratio of 0.55 ahead of Nvidia's earnings report scheduled for May 28, 2025.