Autos Drive Options Bets This Week

A dense auto earnings calendar is shaping options positioning into the first week of November, with markets watching closely as carmakers from Maranello to Yokohama report.

RACE reports today. ORTEX alt data shows Austrian car registrations, a leading indicator for Ferrari's revenue, running 75% below the same quarter last year. Options expiries cluster at November 6, 13 and 20, suggesting traders are actively positioning around the print.

PSNY and HMC both face the block on November 5 and 6 respectively. Honda's options chain is thin, limited to three expiry dates through January. A leading indicator for Honda's revenue, Japanese car sales, is running 10% below a year earlier across three consecutive months. HMC options activity may pick up sharply after the number lands.

On the macro side, India's domestic auto sales rose 24% year-on-year in October, the third straight monthly gain. That tailwind supports M&M, also due November 5.

Broader market hedging remains measured. SPY expiries run daily through November, reflecting steady but not panicked demand for protection. Positive options flow is strongest in industrials and financials, including Prologis, while put bets are concentrated in semiconductors, with Intel sitting at an RSI of just 25.