Options Signals Cluster Around Chips and a Pharma Catalyst

Inovio Pharmaceuticals grabbed the options market's attention Friday. The FDA approved its plasmid DNA-based immunotherapy for recurrent respiratory papillomatosis. Calls running to the January 2027 expiry saw interest spike immediately after the announcement.

Chip stocks are the other live wire. NVIDIA carries active expiries every few days through December, a sign traders are pricing in near-term moves. CNBC reported chip stocks fell with the S&P 500 and Nasdaq on Friday before staging a partial comeback. That intraday whipsaw was visible in AMD and Micron Technology, both of which rank at the top of the negative options bets table for the past seven days, per ORTEX screening data.

Meta Platforms sits in a bearish patch. It is down 5.4% year to date. Its ORTEX options score ranks it among the highest negative-bet names this week. The nearest expiries cluster around next week's earnings window.

Netflix is off 33.8% year to date. Its RSI-14 sits at just 30.5, on the edge of oversold. Options open interest extends to January 2027, suggesting longer-dated protection is being held.

Amgen is the inverse story. Up 40.8% year to date, it carries the top ORTEX options positivity score this week. Citigroup maintained its Buy rating today but trimmed the price target to $315. Near-term expiries out to November 20 dominate open interest.

Xcel Energy launched a new $6 billion at-the-market equity offering today. Its options chain is sparse, with only three expiries available, but the dilution risk could pull fresh put interest into the November 20 window.