Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Options activity is skewing bearish across large-caps this week. Earnings from major US banks are the dominant catalyst.
Bank of America, Truist Financial and The Bank of New York Mellon all report Q3 results this week. Put bets are elevated heading into the prints. BAC's RSI sits at a depressed 31.8, with the stock flat year-to-date. Truist is down 6.3% in 2026 and carries a 5.8-day DTC, a notably high figure for a money-centre bank.
Chip names are drawing the heaviest two-way options flow in the market. Micron Technology tops both the positive and negative bets rankings. It is up 261% year-to-date. That scale of gain puts both bulls and bears into the options market ahead of its Q4 print. Advanced Micro Devices, up 184% this year, sits just behind.
UnitedHealth Group has a Q3 earnings call queued this week. Its options score sits at the low end for large-caps, suggesting traders are positioning with more caution than outright directional bets. Analysts price in 27% upside, a wide gap that keeps hedging interest alive.
The most skewed bearish options score among mid-large names belongs to Vail Resorts, which carries a short score of 80 and a 17.8-day DTC. Options negative bets are running well ahead of calls.
Delta Air Lines reports Q3 results this week. Its 3.96-day DTC is higher than typical for a profitable airline in a strong travel period. ORTEX alt data shows Korean airports handled a record 38.8 million passengers in September, the most since tracking began in 2023. That kind of traffic backdrop adds interest to whether US carriers can match it when they report.
AEP is worth watching separately. ORTEX alt data recorded reactor output 10 standard deviations below its own history on 29 September, the most extreme nuclear output reading in the dataset. Options traders may yet price that in.
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.
