Options markets are on edge. A packed earnings calendar is driving unusual activity across several major tech names this week.
GOOGL reports this week and sits at the centre of the action. META also faces its quarterly test. Both carry low short interest — just 1.5% and 1.6% of free float respectively. That means the options market, not short sellers, is the primary arena for directional bets right now.
IBM draws attention with short interest at 3.8% of free float. Availability of shares to borrow runs at 1,372% of short interest. Bears have room to manoeuvre. Options traders appear to be watching closely.
INTC also reports this week. Short interest stands at 2.7% of free float. The stock has struggled. Options activity around Intel tends to lean bearish near earnings given its ongoing turnaround uncertainty.
Elsewhere, Beijing's tightening AI and chip export rules rattled BABA and QCOM pre-market. Oil prices are also a live catalyst. options volume tends to spike on Iran-related headlines — crude touched $90 before retreating after Tehran signalled openness to mediation.
The broad theme is clear. Earnings risk plus geopolitical noise equals elevated implied volatility. Traders are paying up for protection and positioning across the board heading into a week that could set the tone for summer markets.
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.
