This paper presents a wireless electro-optic headstage for parallel electrophysiological recording of neural action potential, local field potentials and surface electromyography, while performing multichannel optical stimulation. The headstage is designed for enabling experiments with freely moving rodents, like small laboratory mice. It can record electrophysiological activity on up to 32 channels and stimulate with up to 4 optical channels using only commercial off the shelf components. An embedded digital field-programmable gate array (FPGA) is used to allow real time digital separation of AP and LFP waveform and the recording of sEMG. while performing data reduction through AP detection and compression.