NFLX enters Thursday's earnings with options skew flashing caution. The stock sits at multi-month lows. Short interest stands at 2.4% of free float — steady but bears are not retreating.
Options markets are doing the talking this earnings season. WMS, Advanced Drainage Systems, drew a notable caution signal ahead of its Wednesday print. ORTEX flagged its options skew as defensive. Short interest sits at 4.3% of free float. Cost to borrow is just 23 basis points — plenty of shares available for new shorts.
TSLA remains a crowded name but short interest has held flat near 2.9% of free float. Cost to borrow is 30bps. No dramatic sentiment shift there.
The most interesting pre-earnings options signal sits with CFG, Citizens Financial Group. Its Q2 print is due Thursday. Short interest is 3.9% of free float. Cost to borrow at 52bps is the highest in this group — suggesting lenders are pricing in event risk.
NVDA shows the lightest short positioning at 1.3% of free float. Cost to borrow has fallen to just 20bps. That is a sign of very low bearish conviction from options and short sellers alike.
With earnings season accelerating, options skew across consumer and financial names is the clearest signal of where traders see the biggest two-way risk.
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.
