Q2 earnings season is now underway. Options traders are showing unusual caution ahead of a packed reporting calendar this week.
UnitedHealth Group is drawing the most attention. The stock carries just 1.9% short interest. Yet bearish positioning has grown sharply as the insurer faces ongoing scrutiny over its cost ratio. Analysts flagged UNH as one of the week's most sensitive options setups.
Netflix reports this week with short interest at only 2.4% of free float. Options activity points to directional bets building ahead of the print. Any subscriber miss could trigger a fast move.
Bank of America is also on the calendar. SI sits at just 1.4% of free float. Availability is near unlimited, meaning no squeeze pressure. But the options market is watching closely for guidance on net interest income.
BlackRock heads into its Q2 print with bulls firmly in control. SI is only 1.4%.
Away from earnings, Chewy stands out. Its short interest hit 74.8% of free float. That is an extreme level. remains the most crowded short in the market at 103% of free float, with zero share availability.
CoreWeave carries 33% SI with a cost to borrow near zero — unusual for a stock this heavily shorted. Bears are in but the squeeze risk is real.
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