Bears Circle Wolfspeed, Eyes on Nike Earnings

Options markets are flashing clear signals ahead of a busy end-of-quarter session. Wolfspeed stands out as the most extreme case. Short interest sits at a staggering 129.9% of free float. Zero shares are available to borrow. The cost to borrow has climbed to 8.73% APR. Options expiries run through August, giving bears room to press their bets. ORTEX flagged the stock as a key bear target this session.

Joby Aviation tells a similar story in the eVTOL space. Short interest is 15.2% of free float. Availability has dropped to 89.4%, tightening the squeeze potential. Options are active out to September, with traders watching the July expiry closely.

Nike has earnings due imminently. Options cluster around July 2 — the nearest expiry. That is a clear sign of near-term positioning ahead of results. Short interest is a moderate 5.1% of free float. Availability is exceptionally high at 915%, meaning plenty of borrow remains. The market is not heavily short, but options volume around the earnings date is elevated.

Micron Technology also has a same-day expiry on June 29. Multiple weekly expiries are stacked through September. Analysts raised targets on the stock this session. Short interest is just 3.7% of free float, suggesting the options interest is skewed toward bulls.

Private credit names Apollo Global Management and Blue Owl fell sharply on sector turmoil news. Apollo carries 6.7% SI of free float. Options run to October, an unusually long chain suggesting sustained positioning.

This is not financial advice.