Options traders are turning defensive ahead of a packed earnings week. Super Micro Computer is flashing the loudest warning signal. ORTEX data flags an options alarm in the red ahead of its Q3 2026 results print.
SMCI carries a short score of 63.9. Its RSI sits at 50.3 — neutral, but the put-heavy skew tells a different story. The stock is down 7.5% year-to-date. Bears are loading up on near-term expiries, with contracts clustering around May 8 and May 15.
Constellation Energy shows similar caution. Options traders are hedging ahead of its Q1 print. The energy-to-data-center pivot has attracted bulls, but the options market is less convinced for now.
Offshore driller Transocean is seeing bears press hard. Short sellers are piling in before Q1 results. Options activity skews negative, adding pressure to a stock already battered by oil price volatility.
On the bullish side, NVIDIA tops the positive options bets leaderboard over the past seven days. Sandisk ranks second — remarkable for a stock up 400% year-to-date. and also show heavy call-side activity, reflecting tech optimism.
The contrast is sharp. Mega-cap tech draws call buyers. Earnings-exposed names like SMCI and RIG attract put pressure. Options markets are pricing in binary outcomes across the board this week.
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.
