Bears Pile Into Micron Ahead of Print

Options bears are leaning hard on MU this week. Micron leads all large-cap names in negative options bets over the past seven days. The semiconductor giant — up 279% year to date — faces Q4 results soon. Traders appear to be fading that rally.

CNXC is another name drawing bearish attention heading into its Q3 print. Concentrix carries an 18.2% short interest as a percentage of free float. The stock is down 29% year to date. Options flow reflects that negativity. Short sellers have not backed down — DTC sits at 6.1 days.

KMX tells a different story. ORTEX flagged growing options defensiveness there, even as short sellers retreat. The stock has climbed 46% this year. Bears are buying protection via puts, a sign they fear a pullback without fully committing to shorting shares. Short interest is just 6.9% of free float with borrow very cheap at 45 basis points.

COST faces fresh pressure after analysts cut price targets. RSI has dropped to 38 — technically oversold territory. Options activity could pick up around those target cuts.

Across the market, chip names dominate unusual options flow. AMD and NVDA both rank high in negative bets by dollar value. Chip stocks staged a partial rebound after last week's AI-linked selloff. But the options market remains cautious. Large put volumes in semiconductors suggest the rebound has not convinced everyone.

This note is for informational purposes only and does not constitute financial advice.