Bears Circle Semis as Puts Dominate July Close

Options flow turned bearish on semiconductors into July month-end. Micron Technology topped the negative bets leaderboard across US stocks this week. The memory chipmaker is up 206% year-to-date. Traders are hedging those gains hard.

Tesla also drew heavy put flow. TSLA has shed 31% in 2026. Its RSI sits at just 30.6. That's oversold territory. Yet bearish options bets keep building, suggesting sellers aren't finished.

Meta Platforms and Advanced Micro Devices rounded out the top negative-bet names. Meta is down 18% YTD. AMD has surged 127%. Both are pulling large options volume as earnings season approaches.

On the bullish side, sentiment flipped decisively positive for financials and utilities. Bank of New York Mellon and Southern Company both scored 100% positive options flow over the past week. Intercontinental Exchange matched that reading. Traders appear rotating into defensive income plays.

Vertiv Holdings caught attention separately. The data center power stock scored an RSI of just 28.8 despite a 40% YTD gain. Analysts see 51% upside. Options traders are watching for a reversal.

A broader macro signal arrived late Thursday. Reports emerged that new Fed chair Warsh is considering reducing the frequency of Fed policy meetings. That rattled rate-sensitive names. The SPY shed ground into the close. Utilities and financials with 100% positive options scores may reflect bets on a more predictable rate path ahead.

This article is for informational purposes only and is not financial advice.