Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Bearish options bets dominated the flow this week. Micron Technology and NVIDIA led all US names by negative options volume — a striking signal given both stocks sit near multi-year highs. NVDA is up 20% year-to-date. MU has surged 235%. That kind of run tends to attract put buyers bracing for a reversal.
The broader macro backdrop adds fuel to the caution. Global bond yields hit multi-year peaks on Thursday. The US 10-year touched its highest since 2023. Rising rates tighten the discount on high-multiple tech. Options markets are pricing that risk in.
Wolfspeed stands out at the smaller end. Its short score sits at 74 — among the highest in the semiconductor space. Days to cover are at 7.3. The stock is up 53% this year. That combination of extreme short positioning and sharp gains makes it a prime candidate for outsized moves. Traders have taken notice.
Chewy draws attention on the bearish side too. Down 27% year-to-date, its short score is 55 and DTC is 2.1. Bears remain active even after a heavy decline.
On the bullish side, NVIDIA, Micron, and Meta Platforms all ranked in the top five for positive options bets over the past week. The two-way flow in NVDA and MU reflects genuine uncertainty — big money is hedging both directions simultaneously.
Broadcom and Moderna are the week's most-watched earnings-adjacent names. AVGO is due to report Q3 results soon. MRNA has rallied over 400% YTD. In both cases, options markets are bracing for a swing.
Data sourced from ORTEX. This is not financial advice.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
