Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
The biggest event on the calendar this week is Q3 earnings. JNJ and UnitedHealth Group both report Monday morning. Bank of America, State Street and Charles Schwab follow through Wednesday. BlackRock reports on Wednesday too, with analyst targets drifting lower ahead of the print despite a wall of buy ratings. The financials slate is the most concentrated since the start of 2024. Options flow in and picked up this week as traders positioned for what could be a macro-read quarter.
Crown Castle is drawing bullish options flow ahead of its Q3 print. The tower REIT carries an RSI of 71.75 and 18.6% analyst upside. Micron logged the highest positive options bets in the US market over the past seven days. The stock is up 260% year to date. On the short side, MiniMed short interest hit 102.9% of free float, up 24 percentage points in a week. Wolfspeed sits at 84.2%, with days-to-cover above 11.
ORTEX Index Rebalance Radar flags a significant forced-selling event building in Canada. Anglo American's agreed acquisition of Teck Resources carries an 88% completion probability. If it closes, ORTEX forecasts $982M of forced selling from the S&P/TSX Composite, equal to 12.5 days of normal volume. A separate deletion of First Capital REIT carries 80% odds, with $103M of forced selling expected around October 23. ACV Auctions faces a $259M combined deletion from Russell and MSCI indexes as Copart's tender nears its close.
Japan machine tool sales hit JPY 147,354 million in August, a 17-year record for that month and 27% above a year ago. Finland's battery-electric car registrations reached 4,337 in September, the highest since the series began in 2014. Korean international air passengers rose 10% year on year in September to 24.9 million.
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.
