Bears Circle Fluence Energy as Crypto Lifts Sentiment

Options markets sent mixed signals on September 18, with bears massing around beaten-down energy names while crypto tailwinds pushed bullish bets elsewhere.

FLNC drew the most aggressive bearish positioning of the day. Goldman Sachs slashed its price target by 59% and cut its rating to Neutral. Short interest sits at nearly 30% of free float. The ORTEX short score stands at 68. Options flow followed the downgrade hard, with the stock's RSI crashing to 24.9 — deep oversold territory — and the name down 61% year-to-date.

Crypto momentum dominated the bullish side. HOOD rose alongside Bitcoin after the CFTC released a new crypto regulatory proposal. Robinhood carries a $94 billion market cap and short interest is relatively light. Options traders appear to be chasing the crypto beta trade through the stock.

MARA also benefited from the Bitcoin bid. Short interest at 28.6% of free float makes it a volatile name. Availability of shares to borrow sits at just 59% of short interest — a tight reading that could accelerate any squeeze if calls pile in.

On the bullish options screen, PG and MRK led large-cap names with 100% positive options flow over the past week. Merck gained a catalyst: European regulators advanced Keytruda approval in bladder cancer, adding fuel to the bullish positioning. Truist raised its price target on DXCM to $102, and options sentiment there remained constructive with a 8.87% analyst upside.

The broad options screen shows defensive consumer staples attracting call flows. Colgate-Palmolive, Mondelez, and Illinois Tool Works all registered 100% positive options bets over seven days — a tell that some traders are rotating out of growth and into stability.

This is not financial advice.