Options markets flashed bearish signals across several sectors this week. Chip stocks and beaten-down consumer names drew the heaviest negative bets.
Micron Technology and NVIDIA led the negative options flow in the semiconductor space. Both names ranked at the top of the one-week negative bets leaderboard. Micron has surged 260% year-to-date. That parabolic run appears to be drawing put buyers. NVIDIA, despite its $5.45 trillion market cap, also showed elevated negative flow.
Consumer names told a similar story. Chewy sits down 37% year-to-date. Its RSI stands at just 34.97. Bears have added to put positions even at these depressed levels. The short score sits at 56. Days to cover is 2.8. Neither metric is extreme, but the options flow is clearly skewed negative.
Lyft is another name attracting defensive flow. Down 23% for the year, its RSI of 33.6 signals oversold territory. Yet options traders have not moved to buy the dip. The short score of 68 suggests short sellers are not backing off either.
On the bullish side, Centene posted the highest options score among large caps this week. It is up 56% year-to-date. also ranked near the top. It has gained 200% in 2026.
The macro backdrop matters here. Treasury yields hit their highest level in nearly three years this week. Rising rates tend to pressure growth and consumer discretionary names. That macro stress may explain why options traders are defensive on richly valued tech and on battered consumer stocks alike.
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.
