Options markets are flashing caution signals this week. Several major names report earnings, and short interest data from ORTEX highlights where traders are positioning most aggressively.
UNH heads into its earnings report with SI at just 1.9% of free float. But it is one of the most high-profile names on the calendar. Options traders often use puts as hedges on such names before big numbers drop. The stock's short borrow cost remains cheap at 0.44%.
NFLX reports alongside major banks this week. SI stands at 2.4% of FF. With availability at maximum levels, put buyers have little friction entering bearish positions. Watch for elevated put volume ahead of the print.
CRWV is the standout for speculative options activity. SI hits 33.1% of free float. Cost to borrow is cheap at just 0.47%. Availability sits at 206% of SI. That combination means fresh short positions — and therefore put options — can be added easily. Bears are circling.
WOLF remains the most extreme case. SI tops 103% of free float. Borrow costs run at 9.1%. Availability is zero. Options on Wolfspeed carry hard-to-borrow risk. Any call-side squeeze here could be violent.
BAC reports this week too. SI is low at 1.4%, but banks face macro headwinds. Options flow on financials tends to spike around earnings week. Watch BAC and peer ALLE for unusual sweep activity as results approach.
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.
