Earnings season is drawing sharp bearish attention across several US names. Short interest data from ORTEX reveals heavy positioning against some of the market's most watched stocks heading into key results.
Wolfspeed stands out as the most extreme case. Short interest sits at 103% of free float. The cost to borrow has climbed to 9.1% APR. Availability of shares to borrow is effectively zero. Bears are fully committed here, and new short positions are nearly impossible to open.
Chewy tells a similar story. SI % FF hit 74.8%. Availability stands at 537% of short interest, meaning shorts can still pile in. At a $4.9bn market cap, any earnings miss could trigger sharp moves.
CoreWeave carries 33% SI % FF against a $39.8bn market cap. Bears are watching the AI infrastructure company closely as it heads toward its next update.
On the bullish side, analysts upgraded travel and energy names today. Delta Air Lines holds just 3.8% SI % FF. Bullish analyst calls combined with low short interest suggest the market is positioned for upside on travel recovery.
Netflix and Bank of America report this week. Both carry negligible short interest under 2.4%. Options traders show little fear ahead of those results.
The clearest signal right now is in beaten-down shorts. Wolfspeed and Chewy have the highest short conviction in the market. Any positive surprise there could fuel violent squeezes.
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.
