Edited by Peter Hillerberg1 min readStories are generated from ORTEX data and reviewed by the ORTEX team. How we publish
Options markets are pricing in big moves across health insurers and chip names as Q3 earnings season accelerates this week.
UnitedHealth Group sits at the top of the options watch list. The stock is up 14.9% year to date and carries an analyst return potential of 26.7%. Its Q3 earnings call is imminent. Put activity around health-care names has risen sharply. Humana is up 68.6% YTD and also due to report Q3. Both stocks are drawing heavy pre-earnings options positioning from traders bracing for medical-cost surprises.
Chips tell a different story. NVIDIA and Advanced Micro Devices rank among the largest negative options bets in the market this week. NVIDIA's $5.6 trillion market cap makes it the heaviest-flow name in options markets. AMD is up 184% YTD yet short bears are active, with ORTEX flagging persistent negative bets on the stock.
Micron Technology leads the negative bets table by volume, also drawing put flow despite a 261% YTD gain.
Marathon Petroleum is a contrarian read. Up 180% YTD, the refiner is heading into its Q3 report with call-side activity elevated. Refining margins remain the key variable traders are pricing.
Delta Air Lines rounds out the earnings-driven flow picture. DAL has 3.96 days to cover and 23.7% analyst upside. Pre-result positioning skews cautiously bullish ahead of its call. ORTEX alt data shows Korean domestic air passengers fell 11% year on year in September, a headwind for sentiment across the sector even as international traffic rose 10%.
The week's broadest bullish options flow sits in less glamorous names: ADP, Equinix, and CSX all posted 100% positive options scores over the past seven days, per ORTEX screening data.
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.
