Chips Lead Calls, Viking Shakes Options Market

Bullish options bets dominated semiconductor names this week. Meta Platforms and Micron Technology topped the ORTEX positive-bets ranking over the past seven days. Advanced Micro Devices also drew heavy call flow. Its RSI sits at 73.9 — suggesting momentum traders are chasing the name hard. AMD is up 191% year-to-date.

Micron sits at the top of both positive and negative bets simultaneously. That is a rare split-sentiment signal. Traders are buying both sides aggressively. Micron's ORTEX stock score is a stellar 92.7 out of 100. The market disagrees on direction heading into its Q4 report.

The most notable single-stock catalyst today came from biotech. Viking Therapeutics announced a $200 million stock offering plus $200 million in convertible notes. That is a significant dilution event. Short interest sits at 19.7% of free float. Availability is 178%, meaning shorts can easily add. Options traders looking for downside have plenty of borrow headroom.

On the squeeze side of the market, EverCommerce carries a short score of 94 — near maximum. Days-to-cover stands at 21.9. PureCycle Technologies shows similar pressure with a DTC of 20.7. Both names have elevated short squeeze potential per ORTEX scores.

Intel rounds out the notable options picture. Call volume has risen despite analysts showing negative return potential of -6%. Intel reports Q3 results soon. Traders appear to be positioning for a surprise.

This is not financial advice.