Autos, Chips and a Utility in the Options Spotlight

Chip stocks and autos dominate the heaviest negative options bets of the past week, according to ORTEX screening data. Micron Technology and Meta Platforms top the list of names absorbing the largest bearish options flow. Both carry RSI readings below 55, with Meta sitting at just 30.7, deep into oversold territory. Dealers are pricing in continued pain.

General Motors draws attention on two fronts today. The Ohio Attorney General announced GM will pay $220 million over allegations it sold driver location data to third parties. Options expiries run weekly through November, with January 2027 leaps already active. Goldman Sachs simultaneously cut its price target on Ford Motor to $12, keeping a neutral rating. Both automakers have near-term expiries on October 30, concentrating gamma risk at the open Friday.

The Southern Company is the name to watch for an unexpected catalyst. ORTEX Alt Data shows nuclear reactor output fell 10 standard deviations below its own history as of 28 October, an extreme outlier in NRC reactor status data. SO carries a DTC of 4.7 days. Options are available through the January 2027 expiry. A sharp move in power output this extreme can translate quickly into options premium expansion.

On the chip side, NVIDIA and Advanced Micro Devices both show high negative bet volumes. NVDA has a 14-day RSI of 43.9. AMD sits at 53.6. Both names report upcoming quarterly results, and weekly expiries are stacked through November 13. Earnings vol will likely compress spreads sharply into each print date.

The broadest signal this week is the continued tilt toward negative flow in large-cap tech and autos. The Russell 2000 ranking cut-off falls tomorrow, adding a separate gamma event for small-cap index plays.