Options flow is telling two distinct stories this session. Bulls are aggressively buying calls on BABA ahead of its Q1 2027 earnings call. The stock trades at an RSI of just 37. Analysts see 70% upside from here. That combination is drawing speculative call interest from traders betting a catalyst is close.
Meanwhile, bearish bets are piling up in some of the market's most beaten-down names. LULU has fallen 52% year-to-date. CHWY is down 37% over the same stretch. Both carry elevated short scores — 57 and 57 respectively — and negative options flow is adding further pressure. Days-to-cover on Chewy sits at 3.3, making any squeeze scenario plausible but not yet imminent.
ONON is another name drawing divided attention. The Swiss sportswear brand is off 41% year-to-date. Its ORTEX short score of 53 is rising. Analysts price in 57% upside. Bulls are stepping in on dips. Bears are holding ground. The options market is split — a signal the next move could be sharp in either direction.
On the chip side, MU leads negative options bets by dollar value among large-caps, despite a stunning 242% rally in 2026. Profit-taking via puts is a rational response after such a run.
NVDA remains in focus after a director sold $411 million in stock. Its short score is low at just 30, and analysts see 50% upside. Options sentiment on the stock looks muted despite the insider headline — suggesting the market views the sale as routine.
Across the board, defensive names like PG and CL are seeing 100% positive options flow over the past seven days. That rotation toward safety is a quiet but notable shift worth watching.
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.
