Earnings Week Heats Up Options Flow

A packed earnings calendar is driving options activity this Wednesday. QUALCOMM reports Q4 results this week. Traders have positioned across eight expiry dates, with the nearest Friday (6 November) the most active. The stock is down 5% year-to-date and carries an RSI of 37, putting it near oversold territory.

Moderna is the most closely watched name in the options market. The stock is up 649% year-to-date after a remarkable run. ORTEX Index Rebalance Radar forecasts Moderna as the biggest confirmed MSCI World addition in the November review, with an 88% probability and $5.9 billion of forced buying expected from trackers. That pending flow is amplifying options positioning ahead of the 11 November announcement.

Micron Technology leads the market on positive options bets over the past week. The stock is up 192% year-to-date and carries the highest ORTEX stock score in the semiconductor group at 98.5. RSI sits at 37, suggesting buyers are positioning at a dip.

Intel has the lowest RSI of the group at 23, the most oversold reading among major chip names. Options expiries run weekly through November. Analysts see 57% upside from current levels.

AppLovin is a contrarian watch. The stock is down 66% year-to-date. Analysts price in 96% upside. Options negative bets are elevated but the RSI at 25 is drawing speculative call buying ahead of Q3 results.

Amgen stands out among large-cap biotech. RSI at 71 is the highest in this screen, suggesting call sellers may be active ahead of its upcoming quarterly print.