A blockbuster after-hours deal sent options traders scrambling Monday. Vertex Pharmaceuticals agreed to buy Crinetics Pharmaceuticals for $85 per share in cash. CRNX stock doubled on the news.
The deal is a sharp jolt for CRNX options holders. Short interest sat at 13.6% of free float before the announcement. Availability was a loose 421%, meaning shorts had plenty of borrow. The sudden bid flips that dynamic fast.
Earnings season is adding fuel to options flows. Delta Air Lines reports this week. Morgan Stanley raised its price target on DAL to $115 on Monday. Short interest on DAL is just 3.5% of free float. That low conviction from bears signals options traders are skewing toward calls.
CoreWeave is another name drawing attention. Short interest runs at 29.4% of free float — elevated for an AI infrastructure name. Galaxy Digital completed its first 200-megawatt power phase at a Texas data center leased to CoreWeave under a 15-year deal. That positive catalyst could pressure the short side.
Bloom Energy surged Monday with no obvious catalyst. Its short interest is 10.5% of free float. Availability is extremely loose at 2,556% — suggesting very little short conviction despite the move.
The VRTX-CRNX deal, airline earnings, and AI infrastructure news are all driving directional options bets this week.
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.
