Memory and AI chip stocks dominated unusual options flow this week. SNDK — up 429% year-to-date — saw the second-largest bullish options bets of any US stock over the past seven days. MU led the pack. The chipmaker has 15 active expiries, running all the way to July 17. Its RSI sits at 81.7, a sign of strong momentum backing the call flow.
AMD attracted heavy bullish positioning too. Cantor Fitzgerald raised its price target to $500 on Tuesday. The stock is up 59% year-to-date. Options expiries for AMD stretch to late July, giving traders room for longer-dated calls.
CVS Health stands out on the sentiment side. Its options positive % hit 0% for the week — entirely bearish. That came even as Q1 earnings beat expectations with a lower medical cost ratio. Traders appear sceptical the good news will hold.
Monster Beverage also flipped to 100% bearish options flow. That is notable given Rothschild upgraded the stock to Buy with a $90 target today. The divergence between analyst optimism and options positioning is worth watching.
On the broad market, NVDA and AMZN remained among the top five for positive options bets. Both carry RSIs above 80, suggesting the bullish options flow aligns with recent price strength. The chip trade remains the dominant theme in the options market heading into mid-May expiries.
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.
