Earnings Week Puts Markets on Edge

Bearish Positioning Dominates

Short sellers and options traders are aligned this week. Bears are stacking positions across multiple names ahead of a packed earnings calendar. CHWY sits at 52.3% short interest as a percentage of free float, with bears adding another 4.6 percentage points this week alone. WOLF remains under extreme pressure at 75.3% SI % FF. WIX saw the sharpest weekly jump — up 6.2 percentage points to 17.8%. On the options side, put loading is heaviest in NVDA and ADBE. LULU is down 52% year-to-date and its RSI has fallen to 31.8. Bears are pressing via both shorts and puts simultaneously.

Insiders Head for the Exits

Three high-profile US tech insiders filed sales over the weekend. NVIDIA, ESTC, and CPAY executives all trimmed positions. NVDA carries a $5.5 trillion market cap. Its short interest is just 1.2% of free float. With short sellers largely absent, insider selling becomes a more prominent signal. CPAY is up 38% year-to-date — the biggest gainer of the three. Executives cashing out after a near-40% run fits a classic profit-taking pattern.

Analysts Back Software Giants

ADSK and MCO both received consensus upgrades today. Autodesk's average target sits at $315. Moody's target is $562. Both upgrades push against the broader bearish mood. CRM held its bullish consensus with 38 Buy ratings. NOW took a minor target price cut, dropping to $141.84.

Calendar: Oracle and Adobe Thursday

The week's big events land Thursday. ORCL reports Q1 FY2027 results. ADBE follows with Q3 2026 numbers. Both are focal points for options traders already loading downside bets. Earlier in the week, ABM and CASY report Tuesday. RH joins Oracle and Adobe on Thursday.