Chips are the most active trade on September 1. NVDA sits at the top of both bullish and bearish options rankings. That two-way positioning is unusual. It reflects active debate about where AI infrastructure spending goes next. MU and SNDK draw heavy call interest after surging 200% and 525% year-to-date. Bears are pressing AMD and TSLA on the put side. Tesla is down 22% this year. Its options sentiment remains firmly negative.
Bears made aggressive new bets across the week. WOLF — Wolfspeed — sits at 71.8% of free float shorted with zero shares left to borrow. A squeeze here could be sharp. follows at 44.8%, up 7.5 points in seven days. rose nearly 7 points to 19.8% — though availability remains high at 788%, so bears can still pile in. Iridium Communications bucked the trend. Short interest in dropped 36% in a week as shorts covered aggressively.
Medtronic reported today at 6:45am ET. Dell Technologies follows after the bell. AI server demand will dominate Dell's call. Ciena reports Thursday. B. Riley cut its target on Ciena by $103 to $413 this week — a 20% reduction — flagging near-term demand concerns. Cybersecurity pulled in the opposite direction. Scotiabank raised its target on PANW by 34% to $430.
The standout European story remains EVO. Kenneth Dart bought $716M worth of Evolution Gaming shares across two trades in late July. Filings landed August 26. That is one of the largest disclosed insider accumulations in European markets this year. A board-level insider sold $8.3M in shares near the highs in the days that followed — a notable divergence from Dart's dip-buying.
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.
