Chips & Semis Dominate Options Flow on May Day

Options traders are loading up on semiconductors. NVDA sits atop the negative bets leaderboard this week. AMD and Micron are right behind it. All three have seen heavy put-side flow in the last seven days.

Intel stands out on a different metric. The stock is up 157% year-to-date. Its RSI of 85.8 flags overbought conditions. Options traders appear to be hedging that run — negative bets on INTC are among the highest in the sector.

The robotaxi theme is sparking call buying. Trump met with Anthropic on May 1. News about robotaxis reaching a $54 billion market by 2035 hit the wires this afternoon. That drove call flow into Tesla and Alphabet. TSLA is down 17% year-to-date. Options expiries run through late July, giving bulls plenty of runway.

Amazon leads negative bets in megacap retail. Its RSI sits at 76.6. The stock is up 14% year-to-date. Put flow suggests some traders are locking in gains ahead of its Q1 results.

On the bullish side, Welltower, Prologis, and Marsh & McLennan each show 100% positive options flow over seven days. REITs and defensive names are attracting call buyers as geopolitical noise around Iran persists.

Roblox is worth watching. It has a thin expiry ladder — just 10 dates out to July. News today about the company challenging Unity and Unreal engines with AI software could drive a sudden vol spike.

This is not financial advice.