Options traders placed their heaviest negative bets this week on memory and storage names. Micron Technology and Sandisk Corporation topped the negative-options-flow table for large-cap US stocks. Micron is up 222% year-to-date. Sandisk has risen over 500% in 2026. The scale of those gains appears to be drawing in put buyers.
Tesla also sits near the top of the bearish flow list. Its RSI has fallen to 28 — deep in oversold territory. The stock is down 30% year-to-date. Options traders appear to be pricing in further weakness ahead of Q2 results.
On the bullish side, Micron, NVIDIA, and Advanced Micro Devices all show heavy positive-bet volumes too. That split flow — both puts and calls active — signals elevated uncertainty rather than clear directional views. Brent crude broke back above $100 per barrel this week. That geopolitical shock lifted energy names. and oil-infrastructure plays saw their options scores rise as traders positioned around the price move.
Two names stand out for options score strength. Union Pacific carries a 14.4 days-to-cover short position — the highest in this group. Its options activity spiked alongside a 33% price run this year. XPeng shows a short score of 70 and is down 39% year-to-date. Both names could attract squeeze-driven call flows.
Macro background: Iran agreed to pause strikes, easing some of the Middle East risk premium built into broader market puts. Greed Index remains in "fear" territory. That backdrop keeps defensive hedging demand elevated heading into earnings season.
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.
