Options traders are turning bullish on NTLA even as short sellers hold firm. Intellia Therapeutics carries a short score of 77 and days-to-cover of 6.8. That sets up a sharp divergence — puts versus calls, bears versus bulls — heading into its Q2 earnings call.
ORTEX data shows NTLA up 31% year-to-date. Analysts see 104% upside from current levels. Yet short positioning remains near extreme highs. When options flow turns bullish against that backdrop, it often signals a short squeeze setup worth watching.
Nearby in biotech, PPLI jumped 11% this session as a short-versus-options standoff sharpened. The stock sits in a tug of war between bears piling in and call buyers stepping up.
On the defensive side, VIV options shifted toward puts ahead of October earnings. That is the opposite signal — traders paying up for downside protection before results land.
Across large-cap names, MU led the options negative bets ranking by raw volume. META and AMD also showed heavy negative flow. Both chips trade near elevated RSI levels.
Meanwhile a broad sweep of mid-to-large cap names — from TT to BK — posted 100% positive options flow over the past seven days. That suggests steady institutional call buying in quality names, even as macro uncertainty lingers.
The week's clearest theme: earnings-driven hedging is rising. Traders are using options to place directional bets around upcoming results rather than broad macro hedges. Watch the biotech space closely.
This is not financial advice. Data sourced from ORTEX.
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.
