Bearish options bets are piling into semiconductors this earnings week. Sandisk and Micron Technology top the US market in negative options volume over the past seven days. Both stocks have soared in 2026 — Sandisk up 411% and Micron up 207% year-to-date. Those gains have made them prime targets for hedging ahead of results.
Advanced Micro Devices also sits high on the bearish bets list. Earnings are due imminently. AMD's RSI sits at 46.9, just below neutral. Analysts still see 25% upside from here.
On the bullish side, Micron also leads positive options bets. That two-way flow signals genuine uncertainty. Traders are not simply loading puts — they are taking sides aggressively in both directions.
AppLovin stands out for a different reason. Its RSI has fallen to 32.2 — close to oversold territory. The stock is down nearly 49% year-to-date. Negative bets on APP rank among the highest in the market. Analysts see 64% upside, creating a sharp divide between options sentiment and fundamental value.
Wolfspeed carries the highest short score among earnings-week names at 73. Its short interest DTC sits at 5.0 days. Options-driven bearish pressure adds to an already crowded short position. The stock has rebounded 89% YTD despite heavy skepticism.
Super Micro Computer also faces earnings uncertainty. Its short score of 64 and 2.5 days to cover suggest bears remain active.
The broader theme is clear: options traders are not sitting still. Earnings week has triggered a surge in two-sided flow across tech and chips.
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.
