Bears Circle FedEx, Bulls Bet Big on Micron

US Market Highlights

FedEx is the standout story today. The logistics giant is down 16% over the past month. ORTEX data shows flows and positioning are now pointing in the opposite direction — short covering and accumulating call activity suggest some traders are fading the selloff. The stock will be closely watched heading into the back half of the week.

Micron Technology heads into its Thursday earnings with momentum few tech stocks can match. The stock is up 276% year-to-date. Short interest sits at just 2.6% of free float. Options sentiment is heavily bullish into the print. At a $1.2 trillion market cap, it is the most significant earnings event of the week.

NIKE tells the opposite story. The stock is down 43% in 2026. Short interest stands at 6.8% of free float. RSI reads 36.6 — deep oversold territory. Analysts still see 31% upside. That gap between price action and targets is driving elevated options activity ahead of its results.

Olin Corporation is sitting at the bottom of its 52-week range. ORTEX data flags an estimated $247 million of potential forced buying — a squeeze setup that is drawing short seller attention.

Europe & Asia

In Hong Kong, the founding family behind Li Ning spent over $77 million buying shares in late August. That buying is running against institutional headwinds. BlackRock and JPMorgan together sold more than $220 million worth of Kingdee International shares, marking a significant coordinated exit from China's enterprise software space.

Analyst Watch

AMD got a $100 price target increase from Bank of America — raised to $720. Restaurant Brands International faces the opposite pressure. Argus downgraded the stock as shorts retreat and call buyers move in, a mixed signal worth monitoring.