Options flow this week tells a split story. Bullish bets dominate semiconductors. Bearish money is also piling in — but on the same names.
NVDA sits at the top of both positive and negative options bets over the past seven days. That two-sided positioning signals traders are bracing for a big move. The stock is up just 6.4% year-to-date. Its RSI sits at 53 — neutral. Options expiries run all the way to July, suggesting traders are thinking beyond next week.
MU tells a similar story. Micron is up 90% year-to-date. It leads the bearish sweep list alongside SNDK — SanDisk — which has surged 400% in 2026. Those gains draw both momentum buyers and hedgers.
AMD is also appearing on both sides. Its RSI is 79.8 — deep in overbought territory. Call buyers chasing the rally are being met by put buyers looking for a pullback.
Away from chips, XPEV stands out. The Chinese EV maker scores among the highest options sentiment readings this week. Its short interest is elevated at a days-to-cover of 8.1. With Q1 results pending, call activity suggests some traders are positioned for a catalyst.
MXL — MaxLinear — posts the highest 7-day options score of any stock above $5B. The semiconductor firm is up 343% this year. RSI has hit 87. Options expiries are sparse — only May and June dates exist — pointing to concentrated near-term positioning.
DVN rounds out the notable movers. Devon Energy's bullish options score is climbing alongside oil names. The stock is up 38% year-to-date. Earnings are due soon.
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.
