Bulls Dominate as Memory Stocks Surge Into Earnings

Options sentiment is leaning bullish across key names this week. Earnings catalysts are front and centre.

SNDK — Sandisk — is one of the most striking stories. The stock is up 411% year-to-date. Despite that run, ORTEX data shows bears are still committed. Options flow, however, is turning less defensive ahead of its next print. That shift matters. When puts start retreating after a prolonged bear positioning, it can signal sentiment is inflecting.

BBIO — BridgeBio Pharma — heads into its Q2 results with bulls firmly in control of the options tape. The $16.5bn biotech has added 10% year-to-date. Analysts see a further 26% upside. Short interest carries a score of 60, meaning bears remain present. Call buying is dominating anyway.

CSCO — Cisco — enters its Q4 print with bears retreating. The stock is up 58% in 2026. Its ORTEX stock score sits at 85, one of the highest in communications equipment. Options flow is growing less bearish into the print.

NVDA remains a macro bellwether. The $5.4 trillion chip giant holds a 64 RSI and 35% analyst upside. Bears aren't chasing it — short score is just 30. Borrow stays locked on the related ONDS trade, suggesting squeeze conditions persist in satellite plays.

Broader market options flow is also bullish. Large-cap names like U.S. Bancorp and BNY Mellon show 100% positive options bets over the past week. That breadth of bullish positioning across financials and industrials points to sustained risk appetite entering mid-August.

This article is not financial advice.