Bearish options bets are flooding into key tech and chip names this week. Traders are positioning defensively ahead of a packed earnings calendar.
SMCI is attracting heavy attention. The server maker carries a short score of 64, one of the highest in large-cap tech. Its RSI sits at a neutral 50.7, but bearish momentum is building. Multiple reports flag bears circling ahead of its upcoming quarterly print.
AMD is another focal point. Shares are up 128% year-to-date, yet put activity is rising sharply. RSI has slipped to 47.8. Analyst return potential sits at 24%, but negative options bets are climbing fast, suggesting traders are hedging recent gains.
Micron Technology tells a similar story. The stock has surged 209% in 2026. Options flow has turned negative despite the massive rally. Traders appear wary of a mean reversion.
Tesla stands out for a different reason. Shares are down 29% year-to-date. RSI is depressed at 36.9. Negative options bets remain among the largest in the market by dollar value.
AppLovin has the most bearish technical setup. The stock is down 50% in 2026. RSI is just 28.9, deeply oversold. Yet negative bets continue to outpace positive ones.
On the other side, Amgen and AbbVie are drawing bullish options flow. Both names appear in the biopharma sector sweep tracked today, with targets reportedly rising ahead of upcoming results.
Earnings season is the dominant driver. Volatility is elevated across the board.
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.
