Puts Pile Up as Earnings Week Opens

Options sentiment is skewing defensive ahead of a packed Big Tech earnings week. MSFT, AMZN, and META all report this week. Traders are bracing for moves in both directions.

MU leads the negative options flow screen. The stock's RSI sits at 38, deep in oversold territory. Semiconductor names dominate negative bets as the chip sector digests a volatile few weeks.

CRWV draws attention from both bears and bulls. Its ORTEX short score is 67, one of the highest among large-cap tech names. The stock has fallen 24% year-to-date. RSI at 25.75 signals extreme oversold conditions. Options traders appear split on whether that creates a bounce trade or a further slide.

INTC is also on the radar ahead of earnings. The stock is up 136% year-to-date after a dramatic recovery. Its RSI of 32 still leans bearish. Positive options bets have picked up alongside the negative flow, suggesting positioning is two-way.

The EV sector adds a macro overlay. US plug-in vehicle registrations hit a four-year July low of 21,482, according to ORTEX Alt Data. That reading puts extra pressure on TSLA, which reports Q3 results imminently. TSLA's RSI is a relatively neutral 51, but its 17% year-to-date decline keeps put interest elevated.

Wikipedia page views for CGDG and JTEK each ran 10 standard deviations above their own histories in the week to 21 October, per ORTEX Alt Data. Unusual retail attention to dividend and tech ETFs may signal rotation hedging ahead of the earnings gauntlet.

COIN carries a short score of 53 and RSI of 41, with its Q3 report pending. Crypto volatility typically lifts options premiums. Analysts see 30% upside, yet bearish bets remain elevated.