Options flow is flashing warning signs across the tech sector this week. Negative bets dominated the leaderboard on August 23, with MU topping the bearish options chart by a wide margin.
Micron Technology led all US stocks in negative options bets over the past seven days. The chip giant is up 239% year-to-date — and traders appear to be hedging that run hard. Analysts still see 57% upside from current levels. But the options market is not convinced.
Sandisk ranked second in bearish options flow. Its staggering 572% YTD gain makes it a prime target for put buyers looking to lock in profits or bet on mean reversion.
Reddit is drawing short seller attention too. Its short score stands at 64 out of 100. The stock is down 33% this year. Days to cover sit at 4.6 — a number that could amplify any squeeze if sentiment turns.
On the bearish end of options sentiment, Johnson Controls and Aon registered zero positive options flow for the week. Both face near-term earnings events. Traders appear to be taking no chances.
Meta Platforms and Tesla also attracted heavy negative options bets. Meta's RSI sits at just 38.7 — technically oversold territory. Analysts still show 37% upside potential, but put buyers are not waiting for a recovery.
HYMC, the gold miner flagged earlier for heavy shorts and rising puts, carries a short score of 77 — one of the highest in the US market. Its DTC of 16 days signals extreme crowding on the short side.
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.
