Options markets are buzzing ahead of a busy earnings week. NKE, STZ, and CRM all report this week. Traders are pricing in big moves.
NKE shows heavy put open interest at the $35 strike for the July 17 expiry. Over 3,700 contracts are open there. The $30 put line holds another 1,876 contracts. Put OI towers over call OI across most near-the-money strikes. That signals defensive positioning ahead of Thursday's earnings.
STZ drew attention too. Short interest sits at 5.1% of free float. Availability of shares to borrow is extremely high at 2,186% of SI. That means shorts can pile in easily. Options expiries cluster around July 17 and September 18.
SNAP faces fresh legal pressure after a lawsuit was filed over user safety. Short interest is 9.4% of free float. The next notable expiry is July 17. Bear positioning could intensify if the case gains traction.
NEE stands out on the other side. Utilities surged this week. NEE has a rare June 30 mid-week expiry on top of standard monthly dates. That suggests active hedging around near-term rate and energy catalysts.
CRM has the most expiry dates of any stock in this group — 17 active dates stretching to September. That deep expiry chain points to elevated trader interest ahead of its earnings event. Bears have been flagged as piling into the name this week.
Options markets head into quarter-end with a defensive tilt. Watch NKE and CRM earnings for the next catalyst.
This 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.
