Micron Technology and Sandisk dominated options flow this week. Both stocks ranked at the top of negative options bets in the US market — a striking signal given their explosive YTD gains of 188% and 412% respectively.
Bearish positioning in chips is notable. Micron carries a $930bn market cap. Its RSI sits at 43. Analysts still see 85% upside. Yet options traders placed the most negative bets in the sector. That divergence between analyst optimism and options caution deserves attention.
Tesla also drew heavy negative options flow. The stock is down 31% YTD. RSI sits at just 31.7 — firmly in oversold territory. Despite that, put pressure remains elevated. Short sellers and options traders appear unconvinced a floor has formed.
On the bullish side, Micron simultaneously led positive bets too. It ranked first in both positive and negative options volume. That tug-of-war signals high uncertainty around the name — likely tied to its upcoming Q3 earnings.
Amgen drew attention heading into a big earnings week. The biotech's options score ranked among the week's highest. With a 2.71% forward yield and RSI at 64, it sits in a stronger position than most names facing earnings scrutiny.
Lucid Group stood out for a different reason. It carried the lowest options sentiment score of any mid-cap stock. Down 30% YTD and sporting a 7.7 days-to-cover short burden, bearish options flow reflects deep market skepticism about its path forward.
Earnings season amplifies every signal. This week's options flow points to chips, EVs, and pharma as the focal points of institutional hedging activity.
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.
