Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Geopolitical risk is reshaping options flows on July 8. US military strikes against Iran cracked the ceasefire. Traders rushed to hedge — or bet — across energy and travel stocks.
XOM and CVX are the clearest beneficiaries of rising oil prices. Short interest in both names stays very low — 1.4% and 1.1% of free float respectively. That signals limited bearish positioning. Call-heavy flows in energy are the likely dominant trade today.
OXY draws more attention. Its SI % FF sits at 2.8%, higher than majors. Availability of stock to borrow remains extremely wide at 8,704% of short interest. Shorts face no squeeze pressure — but options players may see asymmetric upside if crude spikes further.
DAL sits in the crossfire. Rising fuel costs hit airline margins directly. SI % FF of 3.5% is the highest of this group. Protection-buying via puts is the rational play. Availability at 970% of SI means there is still easy access to borrow for new shorts.
In tech, NVDA draws fresh attention after an analyst called it cheaper than META and MSFT on valuation. SI % FF is just 1.3% — a heavily long-biased tape. Call activity likely dominates near-term options flow.
Earnings season also opens today. BAC, PEP, and DAL all report. Event-driven options volume typically spikes around earnings. Implied volatility premiums into these prints will be the key variable to watch.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
