Today is a quarterly options expiry day. Massive notional value expires across major US names. Traders are bracing for elevated volatility as positions roll or unwind.
NVDA carries the largest active expiry chain — with 25 dated expirations listed out to September 18. The chip giant's short interest sits at just 1.2% of free float. Bears are not the story here. The options calendar is. Dealers face significant gamma exposure into today's close.
MU heads into earnings with a similarly packed chain. 23 expiration dates stretch through late September. Analysts flagged chip names for caution this week. Short interest at 3.4% remains modest. But options volume around the June 26 and July expiries will be worth watching.
NKE reports earnings tonight. It is one of several big names on the end-of-quarter slate. Short interest stands at 4.1% of free float. Call and put activity will be front-loaded around tonight's release.
WOLF stands out for a different reason. Short interest hit 117% of free float. Cost to borrow is over 9%. Zero shares are available to borrow. Options traders eyeing this name are playing a heavily squeezed stock. The September 18 put chain may attract defensive positioning.
GME shows 13.5% short interest with availability at 72%. Bears are active but not yet cornered.
Quarter-end often brings sharp moves. The expiry wall today makes it one to watch closely.
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.
