The options market is sending mixed signals this week. Bullish and bearish bets are piling into the same sector — semiconductors — from opposite directions.
Micron Technology and Sandisk Corporation sit at the top of both the positive and negative options flow tables over the past seven days. That two-way activity is unusual. It points to high uncertainty around the memory chip trade, not clear directional conviction. Micron is up 207% year-to-date. Sandisk has surged 411%. Both face September earnings risk.
NVIDIA and Advanced Micro Devices also draw heavy two-sided flow. NVIDIA carries a $5.4 trillion market cap. Despite that scale, options bets remain elevated on both sides. The stock scores a short score of just 29.9 — bears are not piling in via stock loans. But options flow tells a different story.
On the bearish side, Hertz Global Holdings stands out. The stock has fallen 56% in 2026. Its short score sits at 75. Days-to-cover hit 12.1 — among the highest in the market. Options bears are now joining short sellers.
RingCentral and SoundHound AI also saw bearish options pressure this week, per ORTEX data. Both carry elevated short scores above 65.
The positive end of the options flow table favours Johnson & Johnson, Johnson Controls International, and Microsoft. All three show the strongest bullish options scores this week. Microsoft's RSI sits at 78 — momentum is running hot.
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.
