Puts Pile Into Tech as Chips Face Sentiment Test

Micron Technology tops the options market's negative-flow list this week. The semiconductor giant leads both sides of the ledger, drawing the heaviest put and call bets in the US market over the past seven days. That dual pressure signals traders are positioning for a big move, not a consensus direction.

Meta Platforms sits on a 14-day RSI of 33, deep in oversold territory. Negative options bets rank among the five largest in the market. A UK court ruling against Meta, TikTok and X over social media safety data added legal risk to an already weak tape.

Marvell Technology has gained 168% year-to-date but carries rising put flow. Analysts flag "thick negativity" around chip names despite strong price performance. Marvell's next results are not due until the Q2 2027 cycle, leaving options traders to price in uncertainty with a thin short base (DTC: 0.27).

Hertz Global Holdings carries the market's highest short score at 86. The stock is down 63% year-to-date. Options expiries run only to January 2027, limiting the structure available to bears, but at 7.4 days-to-cover, short sellers remain firmly in control.

Flutter Entertainment faces a separate pressure. ORTEX's Index Rebalance Radar puts its MSCI World deletion probability at 72%. It trades 11.5% below its exit threshold of $92.11. A confirmed deletion would trigger $741M of forced selling. Flutter's sparse option chain, with expiries at November 20, December and January only, suggests the index event dominates over options as the near-term price driver.

On the bullish side, Palantir Technologies leads the positive options score rankings. Its November expiry chain runs weekly, consistent with active retail participation ahead of earnings season. Despite public commentary on "thick negativity," options positioning leans constructive.