Options flow is sending a clear bearish signal ahead of a packed earnings calendar. The biggest negative bets over the past seven days have clustered in semiconductors and mega-cap tech.
Micron Technology sits at the top of the negative options flow leaderboard. The chip stock is up 206% year-to-date. Traders are buying downside protection at scale ahead of its Q3 results. Sandisk, up a stunning 439% YTD, shows a similarly heavy negative bets count — profit-takers appear to be hedging through puts.
Tesla draws attention on multiple fronts. Its RSI sits at just 30.56, near oversold territory. The stock is down 31% for the year. Options negative bets rank among the highest in the market this week. Analysts see 29% upside, but the options market is not buying it yet.
Tempus AI stands out as a newer name in the flow. ORTEX flagged its options alarm as "louder" this week. Its short score is a high 72.4 and DTC is 8.5 days. It is down 25% YTD. Bears are pressing harder as earnings approach.
Meta Platforms shows a bearish lean too. Its RSI is at 32. The stock is off 18% YTD. Positive options bets still rank highly in raw dollar terms, but negative flow is rising.
On the bull side, utilities are drawing unusual call activity. The Southern Company and American Electric Power both show 100% positive options scores over the past week. Rate-sensitive defensives are attracting buyers as bond yields remain in focus globally.
The yen jumped 3% Friday on intervention speculation, rattling cross-asset trades. That currency move may be amplifying put demand on tech names with large overseas revenues.
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.
