Triple Witching, Tech Dumps, and an Iran Tailwind

Macro Sets the Tone

Markets are getting a boost from geopolitical relief. Oil slid to a three-month low after President Trump said the US is close to an Iran deal. Stocks and government bonds both gained on hopes the energy shock will ease. European defence stocks reversed hard — the rally that dominated the past weeks went into reverse on funding concerns. Gold sank to a six-month low as speculative investors exit, with bullion on track for its worst quarter in nearly a decade.

Options Expiry Amplifies Moves

Today is June triple-witching expiry day. NVDA carries the deepest options chain — 29 active expiry dates. The stock remains central to market direction. Put interest in TSLA looks elevated after Reuters reported the company gave European regulators misleading Full Self-Driving safety data. That's a fresh overhang for a stock already under scrutiny.

Tech Insiders Head for the Exit

NVDA insiders filed over $224M in stock sales this month. DELL's largest shareholder, Silver Lake, filed $714M in sales across June. CRWD board members added $15M more. The pattern is clear — tech insiders at the top of the market are cutting positions.

Short Sellers and Cruise Bulls

Short interest in Cerebras Systems exploded 24 points in a week to 30.3% of free float. Bears are betting hard against AI chip valuations. Meanwhile, Wolfspeed shorts fled — SI dropped 31 points as the squeeze accelerated. On the analyst front, Royal Caribbean, Norwegian Cruise Line, and Carnival all received price target upgrades. Travel demand confidence is building into summer.

Week Ahead

CarMax reports Tuesday after a 41% earnings surge drove attention. Kroger follows Wednesday. Progressive posts May monthly results tonight.