Applied Materials and ASML: Chip Equipment Options Flip From Puts to Calls in One Session, and What It Means for Factory-Build Contractors (GTA Terminal Data, November 9, 2026)

Applied Materials and ASML make the machines that make computer chips. When their stocks move, it says something about how much money chipmakers plan to spend on new factories, and those factory projects pull in electricians, steel erectors, crane operators and earthmoving crews for years. On Monday, November 9, Applied Materials closed up 11.37% and ASML closed up 6.21%. Here is what GTA Terminal data from Global Traders Academy showed about the money behind the move, including an intraday change of mind in Applied Materials options.

Applied Materials: puts at midday, calls by the close

At 12:30 PM ET, the stock was at $371.00, up 11.51%, but the options money was leaning the other way. GTA's Applied Materials midday flow check counted $15.6M in premium: $3.8M in calls and $11.8M in puts, so only 24% was in calls, with a put/call volume ratio of 1.09. The midday report flagged the 20-day average at $394.51 and the 50-day average at $443.03 as the levels that would settle the question.

By the close the lean had flipped. The Monday closing tally on Applied Materials showed the stock at $370.55 with 92% of that report's premium in calls and 7 contracts trading above open interest. The bigger picture stays cautious: the trend is down, the stock sits below its 50-day and 200-day averages and 50% below its 52-week high, with an RSI of 43. In the latest off-exchange data (November 6), 3,026,184 shares traded in dark pools, 1.1 times normal.

ASML: $130.2M in premium, 60% calls

ASML, the maker of the lithography machines every advanced chip factory needs, drew far more options money. In GTA's ASML session summary for November 9, the stock closed at $1,513.25 and $130.2M in premium traded: $78.5M in calls and $51.6M in puts, or 60% calls, with a put/call volume ratio of 1.06.

Off the exchanges, GTA's report on ASML's off-exchange trading counted 722,430 shares on November 9, 1.2 times the 20-session average and 33.0% of volume. Like Applied Materials, ASML is still in a downtrend, below both long averages and 24% under its 52-week high, with an RSI of 43.

What it means for contractors near chip and data projects

• One big day does not reverse a downtrend. Both stocks are well below their highs. Investors are not yet pricing a new spending boom, so treat any factory pipeline in your region as steady, not surging.

• The midday flip is a lesson in patience. Applied Materials went from 24% calls to 92% calls in one session. If you track these names to time a bid or a hire, wait for several sessions to agree.

• Factory work is equipment heavy. Site prep, foundations and steel need excavators, dozers, telehandlers and cranes for months at a time. Long jobs often make owning cheaper than renting.

• Watch the levels GTA flagged. A move back above $443.03 in Applied Materials would be a stronger sign that the chip-equipment cycle is turning up.

A signal, not a guarantee

Options premium shows where money went, not whether each trade was bought or sold. The dark-pool reads were only modestly above normal, and the long-term trends still point down. Treat this as a signal, not a guarantee, and not investment advice. For the basics, see GTA's guide to trading options on chip stocks. For more on this group, read our Lam Research vs. KLA post and our look at GE, Honeywell and Eaton.

Equipment for long industrial jobs

Multi-month factory and data-center projects reward crews that own their core machines. BFC Equipment Loans finances excavators, dozers, telehandlers and trucks for commercial contractors. Start a BFC application for heavy equipment before your next large bid.