Bears Circle NKE Into Earnings, Chips Get Upgrades

Options markets are flashing mixed signals this week. Several high-profile names face key catalysts ahead.

NKE reports earnings in days. Its July 2 expiry has the most near-term call concentration. Short interest sits at 5.1% of free float. Availability is extremely high at 915% of SI. That means borrow is easy and traders can still load up puts cheaply. Watch this expiry closely.

NVDA carries 25 active expiry dates through September. That unusually dense options ladder signals intense speculative positioning across multiple timeframes. Short interest is only 1.3% of free float. Analyst upgrades this week boosted the chip giant further.

WOLF stands out as the most extreme case. Short interest is 129.9% of free float. Availability has hit zero. Bears have no more shares to borrow. Options expiries run through September, but any positive catalyst here could trigger a violent squeeze.

LCID tells a similar story. SI is 39.2% of free float. Cost to borrow is a punishing 77.9% APR. New bets are nearly impossible to place. July expiries are active.

ASTS sits at 25.3% SI with only 21% availability remaining. Shares available to short are drying up fast.

AMAT received a fresh analyst boost this week. Its options chain extends to mid-July with an unusual July 14 mid-week expiry, suggesting event-driven positioning around semiconductor data.