Puts Pile Into Chips as Boeing Gets a Lift

Options flow this week shows a clear divide. Semiconductor names are drawing heavy bearish bets. Bullish positioning is concentrated elsewhere.

AMD tops the negative-bets leaderboard among large-caps over the past seven days. NVDA, MU (Micron), and INTC also rank among the most negatively skewed names by options order flow, according to ORTEX data. AMD's RSI sits at 34.6, close to oversold territory. The stock is up 118% year-to-date yet carries a neutral short score of 30.7. Options traders appear to be hedging that run.

AMD CEO Lisa Su told investors the company has "good visibility into 2027" on AI infrastructure. That comment hit Wednesday morning. It has not stopped the put flow.

GOOGL is separately in focus. Reuters reported the company is extending voluntary buyout offers to employees across several countries. The news landed at impact score 10 on ORTEX's news feed. Options on GOOGL carry 13 live expiries through January 2027, with the nearest cluster at November 6 and 13.

BA draws the most bullish read on the aerospace side. Boeing finalised a purchase agreement for 140 737-10 aircraft with lessor Avolon, described as the largest single-aisle order by a lessor. ORTEX scores BA at an analyst return potential of 35.4% from current levels. Its RSI is 37.8, in the lower range.

SPY options span 19 expiry dates through January 2027, the densest chain of any name tracked. Daily and next-day expiries are both live. That density reflects elevated hedging demand around US midterm election results still filtering through.

Top options-score names among large-caps include Flex, Amgen, and GE. All three carry positive seven-day options scores. Meanwhile, Guardant Health and First Solar sit at the bearish extreme of the options-score ranking among names above $10 billion market cap.