Semiconductor names are driving the bulk of options activity on September 2, as a wave of after-hours earnings prints reshapes sentiment across the sector.
NVDA leads all US stocks by positive options bets over the past week. MU sits close behind — and both stocks also rank among the top names by negative bets. That double presence signals two-sided vol positioning, not directional conviction. Traders are buying both calls and puts, bracing for a big move.
AVGO triggered the session's sharpest reaction. Broadcom posted Q3 AI revenue up 221%. Shares slid on soft guidance. The options market had flagged the tension: AVGO carries a YTD gain of just 6.8%, and analysts see 42% upside. That gap between price and target tends to attract active positioning around results.
MSFT is the week's biggest dollar-volume options name. The company restated Q4 Azure revenue at $29.4B and guided Q1 Azure growth at 44%-45%. Its RSI sits at 63.7 — elevated but not extreme. Positive bets still outweigh negative bets, keeping weekly options sentiment bullish.
NTAP is worth watching on the bearish side. NetApp's stock tanked despite a strong Q1 earnings print. That sell-the-news dynamic often pulls put volume sharply higher in the days that follow a miss in market reaction.
SandDisk stands out as a non-headline name with surging positive options bets. The stock is up 547% year to date. Options flow is running bullish, and its stock score hits 88.7 out of 100 — one of the highest in the semiconductor space.
Across the board, chips are where the options market is pricing maximum uncertainty heading into September.
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.
