Earnings Week Puts, Chip Bears, and a Taiwan Catalyst

A packed earnings calendar is driving heavy options activity this week. Negative bets are concentrated in semiconductors and megacap tech, where traders appear positioned for volatile prints rather than clean beats.

NVDA leads the large-cap negative options flow over the past seven days. The stock is down 14% from its RSI peak. AMD sits alongside it with a 14-day RSI of 36.5, deep in oversold territory. Both face Q3 prints from peers this week, and options traders are loading puts ahead of any read-across.

The backdrop matters. Taiwan's export orders hit $95.7bn in September 2026, a record high since the series began in 1984. Semiconductor-linked orders are a big part of that. For chip bulls, that is supportive. For put buyers on US-listed names, the question is whether that demand is already priced into stocks that have already doubled or tripled year-to-date.

TSLA has an options score that is neutral despite a 17% YTD loss. The US state EV fleet shrank to 13,272 registered battery-electric vehicles in July 2026, the smallest July count in four years. That real-economy softness adds a bearish undertone ahead of the company's next results.

GOOGL carries an ORTEX options score reflecting a 19% analyst return potential. Put positioning into its print is countered by bulls buying call exposure on the cheap after months of consolidation.

CNC tops the ORTEX options score ranking among large-caps this week. Its RSI is 65.8 and the stock is up 73% year-to-date. Elevated call interest there suggests traders expect the run to continue into earnings.

CRWV draws the sharpest negative bets among mid-caps. The stock is down 22% YTD with a short score of 66.8. Put flow is running heavy.