Options traders are turning cautious on quantum computing stock IonQ ahead of earnings. ORTEX data shows bears digging in — the short score sits at 70.97 and days-to-cover stands at 6.5. Options expiries cluster tightly around May 8 and May 15, pointing to elevated near-term event risk. Analysts still see 40% upside, but the options market is telling a different story.
Snap options scored among the highest on the ORTEX options activity screener this week. The stock is down 22% year-to-date. A 37% recent rally has pushed bears to retreat, but the short score remains elevated at 55. Options expiries run out to July. Traders appear split between fading the bounce and chasing momentum.
The biggest raw options volume this week came from the semiconductor space. NVIDIA leads with 29 active expiry dates — more than any other name screened. AMD and Micron also rank near the top by total options bets. All three carry positive RSI momentum above 70.
Sandisk stands out: up 400% year-to-date with the highest options positive bet sum in the screener. That kind of extreme move draws speculative call flow.
A group of large-cap defensive names — Welltower, Prologis, and Waste Management — showed 100% positive options flow over the past week. All three carry low short scores below 40. Rotation into defensive real estate and services names may be gathering pace.
This article is for informational purposes only and does not constitute 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.
