The memory chip revival is dominating options flow this week. Micron Technology and Sandisk Corporation sit atop both the positive and negative bets rankings — a sign traders are split on how far the AI-storage rally can run.
Sandisk is the standout story. Shares are up 411% year-to-date. Despite that run, negative options bets remain heavy. RSI sits at just 41.8 — below the neutral 50 mark. That divergence between price and momentum is drawing put buyers.
Micron tells a similar tale. Up 207% YTD, it leads the positive bets leaderboard. Analysts see 71% further upside. But with RSI at 47.6 and an upcoming Q3 earnings date, options traders are hedging both ways.
Elsewhere, earnings-week positioning is driving activity. Applied Materials and Cisco Systems both report this week. Options sentiment around both names is elevated. Big tech earnings calendars historically spike short-dated options volume sharply.
On the bearish fringe, SoundHound AI and are attracting fresh short interest alongside put activity. ORTEX data shows bear circles forming around both names. SoundHound carries a short score of 65+.
NVIDIA remains active on both sides. RSI at 64.4 suggests continued bullish momentum. Positive bets are large. Yet negative hedges are growing too as the stock approaches fresh highs.
The broad signal: chip names dominate options flow. Traders want upside exposure — but they are buying downside protection at the same time.
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.
