Semiconductor names dominate options flow this week. NVDA and MU top both bullish and bearish bets — a split signal that points to positioning ahead of key macro data rather than directional conviction.
On the bearish side, MU leads negative options bets over the past seven days. Sandisk (SNDK), up 560% year-to-date, follows closely. The massive YTD gain makes it a natural put magnet. TSLA sits in the top five for negative flow too. The stock is down 18% YTD with an ORTEX short score of 30.8.
Bullish options flow tells a different story. NVDA leads positive bets. META and MSFT also rank highly on the call side. That suggests some traders still see upside in mega-cap tech despite subdued RSI readings across the board.
One name outside megacap land stands out for different reasons. ENVX — Enovix Corporation — hit 100% short interest utilization today. Availability collapsed to just 0.51% of short interest. Short interest sits at 27% of free float. The battery maker is expanding US defense drone production. Options players in squeeze-prone names will be watching.
PANW also drew attention. Its CEO publicly warned of major cybersecurity breaches ahead. The stock is up 107% YTD. That combination of momentum and fresh catalyst risk tends to attract both call buyers and protective put flows.
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.
