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Options markets are flashing a clear divide this week. Bullish call flow is dominant across semiconductors. Meanwhile, bearish positioning is concentrated in financials and several mid-cap names.
NVDA leads the pack on positive options bets over the past seven days. The $4.8 trillion chip giant sits with an RSI of 53 — neutral territory — yet call buyers remain active with expiries stretching deep into July. AMD tells a similar story. It has surged 68% year-to-date and carries an RSI of 80, suggesting crowded bullish positioning. Options expiries run weekly through June, with peak concentration in the May 15 and June contracts.
Micron ranks among the top names for both positive and negative options bets. That two-sided flow signals uncertainty ahead of its Q2 results. The stock is up 90% year-to-date. A binary outcome is clearly expected.
The bear case is most visible in banking. Barclays shows a 0% positive options rate over seven days — entirely bearish flow — even as analysts see nearly 15% upside. and carry the same 0% positive reading. Aon is down 12% year-to-date and options traders are not buying a bounce.
In aviation, United Airlines and American Airlines are drawing attention. News of a potential UAL-AAL merger floated by the pilots' union chief is generating chatter. Options chains for both run through July. Traders are positioning around the possibility.
IBM is another name with active options flow. Its Think 2026 AI announcement has extended expiry interest through mid-June. The market is watching whether watsonx momentum translates into earnings.
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.
