Options markets sent mixed signals Wednesday. Bears piled into space and pharma stocks. Chips attracted bullish flows. The divergence points to a market rotating rather than retreating.
Micron Technology sits at the heart of today's bullish action. Wall Street lifted its rating, and options flow followed. The stock is up 284% year-to-date. Its ORTEX stock score hit 92.66 — the highest in the semiconductor space. Negative bets in options ranked among the largest by dollar value in the market this week. That means both bulls and bears are placing big wagers. Earnings are approaching, which inflates options volume on both sides.
Lucid Group drew notable bearish options interest. The EV maker is down 59% this year. Its short score stands at 76.4, and days-to-cover sits near 8. Both metrics signal heavy bearish positioning. Options activity extended that theme, with bears adding to put exposure.
Chewy showed a similar pattern. The pet-products retailer fell 40% year-to-date. Its RSI of 32 puts it in oversold territory. Bears loaded up on puts this week.
Analog Devices stands out on the bullish side. The chip stock rose 44% in 2026. Its ORTEX score is 80.6. Options order flow tilted positive over the past seven days. An upcoming earnings report is the likely catalyst driving activity.
Shift4 Payments carries the highest short score among mid-caps at 79.1. Days-to-cover of 18.4 is elevated. Options bears have been active. But the stock is down 38% this year — a setup some contrarian traders watch closely for a squeeze.
Across the board, options markets reflect a divided tape. Tech bulls are adding risk into earnings season. Bears keep pressing the consumer and EV names.
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.
