Earnings Bets and EV Bears Drive Options Flow

Big Tech earnings week is pulling the heaviest options activity. Micron Technology, AMD, and NVIDIA sit at the top of both bullish and bearish options bets over the past seven days. That double-sided flow signals traders buying volatility, not taking a directional view.

CoreWeave is the standout bearish name outside the mega-cap crowd. The AI cloud provider carries an ORTEX short score of 67 and a 14-day RSI of just 25.75. It is down 24% year-to-date. Negative options bets have been building alongside a 3.5-day DTC, pointing to growing conviction among bears.

Lucid Group draws a similar read. Its ORTEX short score sits at 86.4, DTC is 15 days, and the stock has fallen 67% in 2026. Options flow there skews bearish. Real-economy data adds weight to the EV pressure: registered battery-electric vehicles in the US state fleet fell to 13,272 in July 2026, the smallest July reading in four years, according to ORTEX Alt Data. Plug-in hybrid registrations hit the same milestone, dropping to 8,210. Softer fleet demand feeds the short thesis on EV-exposed names.

Intel appears on both the positive and negative bets lists this week. The stock is up 136% year-to-date but RSI has pulled back to 32. Traders appear split ahead of its Q3 results. Microsoft and Alphabet also report this week. Both carry low short scores below 32 and muted DTC, so the options action looks like earnings hedging rather than directional positioning.

Taiwan export orders hit a record $95.7bn in September 2026, the highest reading since the series began in 1984 per ORTEX Alt Data. That strength in semiconductor-linked demand may be a tailwind for chip names once earnings volatility clears.