Bulls Load Calls as Earnings Season Peaks

Options flow is tilting firmly bullish heading into a packed final stretch of earnings season. Across the market this week, calls dominated bets — and several individual names stand out.

COGT drew 100% positive options flow over the past seven days. Cogent Biosciences carries a $7.2bn market cap and sits with an RSI of 60. Traders are positioning ahead of an FDA event. The short score stands at 55, with 6.3 days-to-cover — a short squeeze is plausible if the catalyst lands.

U — Unity Software — surged 36% on the week after a Q2 beat. RSI hit 81, deep overbought territory. Despite that, options sentiment data showed no negative positioning heading into the print. Bulls got it right.

FOUR tells the opposite story. Shift4 Payments crashed 22% on earnings. The short score reached 81 — the highest of the names tracked here. Days-to-cover stands at 20.3. Yet shorts barely moved post-print. That says bears see more pain ahead.

GTM — ZoomInfo Technologies — surged 27% despite shorts holding firm. RSI reached 74. The stock is down 59% year-to-date. Options traders who bet on recovery were rewarded.

Earnings-driven volatility is the theme. The next big names — CSCO, SMCI, and AMAT — report soon. Options markets will be watching closely.