Options sentiment is shifting ahead of a busy earnings week. IonQ carries the most bearish signal. ORTEX data shows a short score of 71 and days-to-cover of 6.5. Options flow has turned more cautious heading into the Q1 print. The quantum computing stock is up just 3% year-to-date — a muted run that is leaving traders hedged rather than hopeful.
Snap tells a contrasting story. A 37% price rally has pushed the options score to among the highest in interactive media. Short sellers are retreating. The May 6 expiry — the nearest weekly contract — is the key battleground for anyone fading the move.
In semiconductors, MaxLinear tops the options momentum table. The stock is up 343% year-to-date. RSI sits at 87. That extreme reading is drawing options traders who are positioning for a pullback via near-term puts.
Energy names are also attracting unusual call flow. Devon Energy and Diamondback Energy both rank inside the top 10 for bullish options bets over the past seven days. Both stocks have gained roughly 38% year-to-date. Traders appear to be extending that momentum with call spreads into Q1 earnings.
Wolfspeed rounds out the watch list. Its short score of 75.5 is among the highest in the semiconductor space. Options positioning there skews bearish despite an 111% YTD gain — a sign the market may view the rally as overextended.
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.
