Chips Split Options Market as Earnings Loom

Semiconductor stocks dominate both sides of the options ledger this week. Micron Technology and NVIDIA show the heaviest combined positive and negative bets over the past seven days. The flows reflect genuine two-way conviction ahead of a packed earnings calendar, not a clear directional lean.

NVDA sits at an RSI of 47.9, close to neutral. Its analyst upside sits at 48%. But the negative bets flow is high enough to rank it among the top bearish-flow names in the US large-cap universe. That tension makes sense: ORTEX Alt Data shows Taiwan's total export orders hit a record $114.2bn in September, far above last year's $70.3bn. Strong upstream chip demand hasn't yet pushed NVDA's RSI into overbought territory.

CoreWeave stands out as the most notable sentiment shift. Its ORTEX short score reads 66.5 out of 100. Its RSI has fallen to 30.6, deep in oversold territory. Analysts have it with 124% return potential, suggesting the market and analysts are far apart on value.

Meta Platforms and Tesla both face confirmed upcoming earnings. META has a 47.4 RSI and analysts see 17% upside. TSLA sits down 14% year-to-date. Both are seeing heavy negative bets flows in the seven-day window.

Advanced Micro Devices carries an RSI of 45 despite a 158% gain year-to-date. Its negative options bets rank it alongside NVDA and META in the bearish flow table. That divergence between price performance and current options sentiment is the week's sharpest signal.

On the bullish side, Union Pacific posted a 100% positive options flow reading. It reports Q3 results imminently and has a 13.8% analyst return potential.