Options traders turned cautious this week. Several names heading into earnings saw put-heavy flow dominate.
Super Micro Computer stands out. The server maker reports Q4 results imminently, and ORTEX data flags unusual caution in options flow. Its short score sits at 64. Days to cover run at 2.45. Traders are paying up for downside protection ahead of the print.
Lucid Group tells a starker story. Just 1.9% of its options flow this week was bullish. That is one of the most put-dominated readings in the US market. The EV maker is down 34% year-to-date. Short score is a high 84.7. The options market sees no near-term rescue.
On the flip side, bullish flow dominated in Johnson Controls. Its positive options percentage hit 98%. The Carlyle Group saw 99.5% bullish flow. Revolution Medicines — up 148% YTD — attracted 98.9% bullish options bets over the past week.
Chip stocks drew heavy negative bets in dollar terms. Micron Technology and topped the negative flow rankings. Both face upcoming earnings. Micron is up 208% year-to-date, raising the bar for results.
Sionna Therapeutics also attracted attention. Short sellers eased positions ahead of a clinical trial readout. Options traders appear split on the outcome. The stock sits at a high-risk junction.
The broader earnings calendar drives most of this activity. Pre-earnings hedging lifts put volumes sharply. Traders watching these names should note that sentiment in the options market is pricing in elevated uncertainty — especially in tech hardware and biotech.
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.
