Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Earnings season is back, and options markets are showing it. Put activity is heavy across the semiconductor space, with Micron, Nvidia and Advanced Micro Devices all topping the negative bets leaderboard over the past seven days. Chips have been among 2026's biggest winners, so the hedging makes sense ahead of a crowded reporting calendar.
Rocket Companies stands out on the other side. The mortgage lender is down 40% year to date. Its short score sits at 60 and days-to-cover at 8.4. Yet options flow has turned positive, with analysts pricing in nearly 48% upside. That combination of a beaten-down stock, heavy short interest, and call buying is worth watching.
Wolfspeed carries the most distorted risk profile in the screen. Short score is 77.7 and DTC is 11.3 days. The stock has rallied 93% this year, but analysts see 10.5% downside from here. That gap between price action and fundamentals tends to attract speculative options positioning on both sides.
Progressive had zero positive bets recorded in options flow this week. Pure put territory for the insurer, which is down 6.6% year to date and trades at RSI 50, still mid-range but with no bullish options signal to anchor it.
Macro context adds pressure. New York State new passenger vehicle registrations fell 46% year on year in September 2026, per public registration data. That reading landed at just 16,749 units, the smallest September on record since 2024, which keeps demand concerns alive for auto-adjacent names heading into Q3 prints.
Goldman Sachs and Citigroup kick off bank earnings imminently. Hedging into those prints is visible in financials options flow, with a clear tilt toward protection rather than upside calls.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data and reviewed by the ORTEX team. Content is informational only and does not constitute investment advice.
