Brent crude above $110 is reshaping options flow. Traders are piling into calls on energy names as the Iran conflict reshapes market expectations.
Devon Energy leads the energy options score board this week. The stock is up 32% year-to-date. Analysts see 21.6% further upside from current levels. Near-dated expiries stack up through May and June, pointing to traders positioning for continued oil strength.
Halliburton shows the highest positive options bets score among oilfield services names. Its RSI sits at 62, rising but not yet overbought. The May 1 expiry is the nearest catalyst. Goldman Sachs flagged oil could reach $120 if the Iran conflict drags on — that kind of headline feeds call demand directly.
On the semiconductor side, options bulls remain active. AMD has an RSI of 80 and leads semis in positive bets volume, up 56% YTD. Micron runs at RSI 73 with a dense cluster of expiries in late May and June. A fresh bullish analyst initiation landed today. NVIDIA carries the largest raw positive bets flow of any US stock — the $5 trillion giant still dominates options turnover.
Meanwhile, GameStop carries a short score of 75.5 and 16.8 days to cover. Options traders are watching the May chain closely. Any unusual call sweep here could signal another short-squeeze attempt.
Defense stocks gave back early gains on "sell the news" dynamics. RTX options activity stayed muted — the May 5 expiry is the nearest event to watch.
This is not financial advice.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
