Bearish options bets are clustering in stocks that have lost the most ground in 2026. Tesla, Oracle, Microsoft, ServiceNow, and Netflix all rank at the top for negative options bets over the past week.
Oracle leads the pain trade. The stock is down 35% year-to-date. Its RSI sits at just 32, deep in oversold territory. Analysts still see 97% upside to their target price. That gap suggests the market and Wall Street are sharply divided.
ServiceNow tells a similar story. Shares are off 38% in 2026. Negative bets have piled in heavily. The RSI of 39 reflects persistent selling pressure.
Tesla draws bearish flow from both directions. It tops the negative bets table. It also appears in the largest absolute negative options volume list. The stock is down 17% this year. RSI is 41.7. A Q2 earnings report is expected soon.
On the bullish side, memory chips dominate. Micron Technology and SanDisk lead all large-caps for positive options bets. Micron is up 236% year-to-date. SanDisk has surged 574%. Analysts still see 57% more upside in Micron. That options flow backs the bull case.
T-Mobile saw subscriber growth disappoint in its latest quarter. The stock is down nearly 6% this year. Options positioning there bears watching into earnings.
The macro backdrop adds another layer. Oil near $99 per barrel after Houthi tanker attacks could lift energy options volumes. Comcast is down 21% in 2026 with a 5.8% forward yield. Bearish flow there has been consistent.
This is not financial advice.
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.
