A busy earnings calendar is driving unusual options activity across several sectors this week. Traders are positioning ahead of key reports from FedEx, Carnival, and Kroger.
FedEx reports Thursday. Options traders have clustered near-term expiries at June 18 and June 26. That bunching signals hedging demand ahead of the print. The $81B logistics giant carries a short interest of just 1.6% of free float. Bears are not the story here — directional bets are.
Carnival is also in focus. The cruise operator faces its earnings test with a lean 2.5% short interest. Options expiries are spread through September. That long-dated spread hints at traders pricing in a wider range of outcomes beyond this week's number.
Meanwhile, Uber grabbed attention after news that Stellantis and Wayve will partner on Level 4 robotaxi services across Europe and North America. Uber's momentum score jumped to 57 this week, up from 49 a month ago. Options expiries on the stock extend to September 2026. The robotaxi catalyst could fuel near-term call flow.
Elsewhere, Chagee Holdings saw its short interest spike 39% in one week to 1.02 million shares. Cost to borrow rose 23% to 1.92%. That kind of rapid short build often precedes elevated put activity as traders hedge their positions.
Tesla carries the most active options calendar in the market today. 24 expiry dates run through September. Elon Musk's comments on currency and AI infrastructure keep implied volatility elevated. Traders should watch the July expiry cluster for signs of directional pressure.
This article is not financial advice.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
