Options sentiment is tilting bullish across most of the market. But several large-cap technology names are drawing heavy negative bets heading into a packed earnings week.
NVDA sits at the centre of it all. The chip giant reports this week and negative options bets rank among the highest in the US market over the past seven days. Its RSI sits at 44.65 — edging toward oversold territory. Analyst upside sits at 46%, signalling a wide gap between where options traders and Wall Street stand.
Micron Technology shows a similar pattern. Negative bets are elevated. The stock is up 219% year-to-date. That kind of run invites protective put buying ahead of catalysts.
Summit Therapeutics grabbed attention today after trial data showed its lung cancer drug extended progression-free survival. Short interest stands at 23.1% of free float. Availability is 153%, meaning plenty of shares are still borrowable. Options traders will be watching how fast sentiment flips.
On the bullish side, S&P Global and Stryker show 100% positive options flow over seven days. , trimmed by one CNBC commentator today, has short interest at just 2.5% of free float with availability near 3,800%.
The week's options calendar is dominated by NVDA. A miss or a guide cut could flip the positive broader market sentiment quickly.
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.
