Options flow this week splits sharply along sector lines. Pharma names are drawing bullish bets. Beaten-down names are pulling in put buyers.
AMGN sits at an RSI of 72. That puts it in overbought territory ahead of its Q2 earnings call. Short interest is just 2.4% of free float. Bears have little room to squeeze — availability runs at over 4,500% of current short interest. The setup points to call positioning around the event.
ABBV tells a similar story. RSI is 47, mid-range and stable. SI is just 1.3% of FF. With a 2.9% forward yield, the stock attracts income-focused call sellers as well as directional buyers.
The sharpest bearish signal belongs to HTZ. Short interest is a punishing 65.4% of free float. Availability is effectively zero. The stock is down 56% year-to-date. With a DTC of 12.1 and a short score of 75, put demand has plenty of fundamental backing.
SMCI sits in a different camp. Bears hold 17% of the float short. Availability is a healthy 142%, meaning new shorts can still get in. The stock is up just 6% YTD despite a chip-sector rally. Uncertainty ahead of Q4 results is fuelling two-way options flow.
AMD is the week's momentum story. Up 126% YTD, short interest is a mere 2.5% of FF. Chip sector headlines around earnings kept options volumes elevated but sentiment skewed bullish.
FIS rounds out the week's bearish cluster. Down 36% YTD with a short score of 37, fintech continues to face headwinds as ORTEX data shows SI at 4.1% of float and rising institutional caution. 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.
