Options market activity on January 16th shows a strong bullish sentiment with a put-to-call ratio of 0.41, indicating an extreme bullish lean. Leading the charge are call premiums for $SPY, $TSLA, $MU, $NVDA, and $LRCX. Notably, there is a significant uptick in interest for uranium ($URNM) and silver ($SLV), reflecting a rotation into materials and miners. Whale activity highlights include a $91K bullish buy for $TREE July 2026 40C and a $504K neutral trade for $LRCX January 2026 160C. Meanwhile, $HYG March 2026 78P sees bearish buying at $40K, suggesting some hedging in the credit market. The overall market sentiment remains bullish, with calls making up 71.13% of the activity compared to 28.87% for puts.