Semiconductor stocks are driving unusual options activity this week. ON Semiconductor stands out with an RSI of 80 and a year-to-date gain of 83%. Options flow on the name skews heavily positive. AMD is close behind, up 57% YTD with an RSI near 79, pointing to momentum-chasing call buying.
SanDisk is the most striking story. The stock has surged 362% year-to-date. It carries the highest negative options bet count in the S&P 500 over the past seven days. Bears are clearly fading the rally. NVIDIA and Micron also rank high on negative options bets. Both names are up sharply this year.
Intel is another standout. Its RSI sits at 86, the highest in the S&P 500. The stock has risen 157% in 2026. Heavy put activity has been seen alongside the surge.
On the bullish side, 100% of seven-day options flow is positive for Welltower, , and . Devon is up 39% YTD. It has a near-term expiry cluster starting May 8. The positive flow suggests traders are positioning for continued upside in energy.
Completely bearish options flow appears for Motorola Solutions, Aon, and Arthur J. Gallagher. All three show 0% positive bets over seven days. Gallagher is down 18% YTD. The 0% positive reading signals sustained defensive pressure.
Amgen has dense near-term expiries through late May. The biotech is due to report Q1 earnings soon. The cluster suggests traders are hedging around the catalyst.
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.
