Quarter-end flows are dominating options markets as traders position into earnings season. Several names stand out with striking short-side pressure and unusual expiry clustering.
WOLF — Wolfspeed — carries the most extreme signal right now. Short interest stands at 129.9% of free float. Availability has hit zero. That combination creates explosive conditions for options traders. Cost to borrow is 8.7%, and any positive catalyst could ignite rapid covering. Near-term puts look crowded, but a squeeze scenario makes short-dated calls high-risk, high-reward.
LCID — Lucid Group — is similarly stressed. Short interest is 39.2% of free float. Cost to borrow has surged to 77.9%. Availability sits at near zero. Options on LCID carry elevated premium as a result. Traders are paying up to hedge directional risk into the coming weeks.
On the upside, MU — Micron Technology — has options chains running from June 29 through September. The density of near-term expiries signals active positioning ahead of its earnings event. Short interest is a modest 3.7% of free float. Wall Street raised its target this week, adding a bullish skew to the options flow.
NKE — Nike — reports earnings this week. Options expiries cluster tightly around July 2. Short interest is just 5.1% of free float. The stock has ORTEX momentum score of 45.7. Traders are buying straddles into the print.
STZ — Constellation Brands — also reports at quarter-end. Options run out to September. With short interest at 4.9% of free float and availability above 2,000%, the options skew leans bullish.
The overarching theme: zero-availability shorts like WOLF and LCID are where the real tail-risk options plays sit heading into July.
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.
