Halloween Options: Bulls Crowd Pre-Earnings Bets

Options markets are showing clear pre-earnings positioning this Halloween, with several names drawing concentrated activity in the Nov-6 and Nov-13 expiry windows.

LUMN is the standout signal. Bulls are leaning in ahead of its Q3 print, with call-side activity picking up in the nearest weekly expiry on 6 November. Lumen's ORTEX short score sits at 47, but its analyst return potential has climbed to 56%. That combination, high upside estimates against moderate short positioning, is a classic setup for options traders to position via calls ahead of a catalyst.

QCOM faces its own Q4 print imminently. Active expiries run through January 2027. With a stock score of 84 and YTD gains of 8.4%, the options curve reflects steady but not extreme demand. QCOM's options structure gives traders room to express views well past the print date.

AMGN is the most bullish-looking name by recent price momentum. Up 41% year to date with an RSI of 70, its Nov-6 expiry is the tightest ahead of earnings. That RSI level often coincides with elevated implied volatility in calls close to expiry.

CIFR sits at the other end. Short interest just hit a new high two days before its earnings release. That kind of crowded short position makes near-dated puts expensive while also raising the risk of a violent squeeze if the print surprises.

ADT surged 43% in a week on deal news. Options expiries skip the near-term weeklies entirely, with the first available date at 20 November. That thin structure limits tactical positioning, leaving deal arbitrage as the main trade.

HMC reports on 6 November. ORTEX alt data shows Japanese car registrations running 10% below the same quarter last year, a dataset with a 65-day lead on revenue with a strong historical fit. That backward trend may already be priced in via the sparse Nov-20 expiry, the earliest available for Honda.