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 significant moves ahead of two high-profile prints. Tesla reports on 21 October and General Motors follows on 20 October. Both stocks are drawing heavy negative options bets by volume this week, with NVDA also attracting large bearish flow as chip sentiment stays choppy.
TSLA carries a short score of 31 and is down 18% year-to-date. Negative options bets on the stock rank among the largest of any large-cap US name this week. A German car registration dataset tracked by ORTEX alt data, which leads Tesla revenue by 43 days with a strong fit, is running up 269% on the same quarter last year across all three months of the period. That divergence between a weak share price and a strong lead indicator makes the pre-earnings options flow worth watching.
GM shows a 24% analyst return potential. The same German car dataset, which leads GM revenue by 15 days, is running up 133% year-on-year. Yet bearish options bets on GM remain elevated heading into Monday's print. Markets appear unconvinced the alt data signal will translate cleanly to the bottom line.
Semiconductor names are also seeing unusual flow. NVDA attracted the second-largest pool of negative options bets among large-caps this week. ORTEX data shows shorts in the bear semiconductor ETF SOXS fell 24% in one week, dropping from a peak of 11.3 million shares to just 3% of float. Bears are covering the hedge, but that has not yet translated into net bullish options positioning on the underlying chip names.
ServiceNow is an outlier on the positive side. Its stock surged today as investors rotated toward legacy enterprise software. Options sentiment on the name flipped sharply bullish this week, with the stock's RSI reaching 74.
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.
