Earnings Week Sparks Options Tug-of-War

A packed earnings calendar is driving unusual options activity this week. Bears and bulls are clashing hardest in semiconductors, megacap tech, and a handful of beaten-down names.

Micron Technology sits at the top of both the positive and negative options bets rankings. The stock is up 247% year-to-date. That kind of run draws two-way flow. Options traders appear split on whether the rally has legs into Q3 results.

Tesla carries a bearish lean. Its RSI14 sits at 29.1 — deep oversold territory. The stock is down 29% this year. Negative options bets rank among the highest in the market. Short sellers show little sign of backing off, with a short score of 31.5.

Oracle stands out as a contrarian signal. Its RSI14 has dropped to 29.6 and it is down 38% YTD. Yet analysts see 107% upside to target. Options bears have been active. That disconnect between sentiment and analyst targets often precedes sharp moves in either direction.

Microsoft and Amazon both have earnings due imminently. Options bets on both names are elevated. Meta Platforms is also in focus. All three face Q2 results with their stocks still in the red year-to-date.

XPeng tops the options score chart this week. Its days-to-cover stands at 8.1. Its 37% YTD decline has attracted significant call activity relative to puts — a potential squeeze setup worth watching.

The broader tone remains cautious. Earnings season is the catalyst. Options markets are pricing in large moves, not calm ones.

This is not financial advice.