Bears Circle as Earnings Season Bites

Options sentiment across key earnings plays is flashing mixed signals this week. Short sellers and derivatives traders are positioning hard ahead of a cluster of results.

RZLV stands out as the most aggressive bearish setup. Short interest sits at 17% of free float. Cost to borrow has jumped to 15.9% APR. Availability is just 22.8% of short interest — meaning borrow is tight and bears are fully committed ahead of Tuesday's print.

ARM fell back to $260 this week. The ORTEX news signal flags the earnings setup has shifted. Short interest is 12.4% of free float. Bears are paying just 0.43% to borrow — positioning is cheap and growing.

COIN tells the opposite story. Shorts hit a multi-month low even as analysts trim targets. SI is 10.2% of float but availability is 381%. Bears are stepping back. The asymmetry is notable into results.

HOOD dropped another 11% this week. Yet analyst targets keep rising. Short interest is a light 4.7% of float. Availability is a massive 1,368% — the market is not betting against this one despite the price action.

On the options flow side, utilities and rails dominate bullish positioning. Duke Energy, McKesson, and Norfolk Southern all show 100% positive options bets over the last seven days. Rate-sensitive names are drawing call buyers as oil passes $100 and bond markets reprice.