The chip trade remains the defining story. Micron Technology leads bullish options flow with the stock up 242% year-to-date. Call buyers are piling in ahead of its Q4 earnings. Advanced Micro Devices and NVIDIA are seeing heavy hedging activity. Traders are locking in gains after a volatile run in AI names.
Energy refiners are telling a different story — an unambiguously bullish one. Marathon Petroleum, Valero Energy, Phillips 66, and HF Sinclair just logged their sixth straight week of gains. Diesel margins are tightening. Options desks are scrambling for puts. Nobody hedged this move.
Morgan Stanley cut targets across US utilities in a single sweep. NextEra Energy, PG&E, PPL, and NRG Energy all moved lower. JP Morgan bucked the trend, upgrading Ball Corporation to Buy. Delta got a boost too — Rothschild raised Delta Air Lines to Buy with a $105 target.
The Bank of Japan raised rates to their highest level since 1995. The yen fell rather than rising. Authorities warned of possible currency intervention. In Europe, Dulux's parent AkzoNobel surged after rejecting a $14.5 billion takeover bid. Turkey is rushing to contain fallout from a stock market scandal, liquidating funds and referring 38 people to prosecutors.
Bill Gates filed purchases of over 4.2 million Republic Services shares worth $927 million between August 10 and September 2. Anterix announced a $250 million buyback program starting September 22 — a signal of confidence in a thinly followed name.
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.
