Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Options sentiment is splitting sharply ahead of a packed earnings week. The divergence is clearest in financials and healthcare, where approaching results are pulling flows in opposite directions.
Truist Financial stands out on the bearish side. Its one-week options flow sits at 0% positive, placing it among the most negatively skewed large-cap names as it readies Q3 results. Bank of America carries a similarly weak RSI of 24.5. Both banks enter earnings at their lowest technical momentum in months.
The healthcare picture is more nuanced. UnitedHealth has a Q3 call on the calendar and an RSI of 40.85. Analysts see 30% upside from current levels. Options flows have not turned decisively negative yet, leaving the name in a grey zone where any guidance miss could accelerate put buying quickly.
Defence is drawing its own scepticism. Lockheed Martin has an RSI of 38.3 and also faces its Q3 call. Analyst target cuts have hit the sector this week. Options positive flow sits well below the broader market average for defence names.
The most unusual signal comes from energy. American Electric Power carries a 7.2 days-to-cover reading, the highest among the large utilities. ORTEX alt data records its nuclear reactor output running 10 standard deviations below its own history as of 29 September. That operational anomaly sits alongside a Q3 earnings call, giving options traders a specific risk to price.
On the bullish side, NRG Energy tops the ORTEX options score for the week despite being down 33% year-to-date. Call flow has picked up sharply. At those price levels, any upside surprise in the utilities earnings cycle could trigger a short covering move fast.
In semiconductors, NVIDIA, AMD, and Micron are drawing the largest absolute negative bets in dollar terms. Chip stocks fell with AI-linked names earlier in the week before staging a partial comeback. The elevated put volumes suggest traders are not yet fully convinced the rebound holds.
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.
