The biggest bullish options bets this week are landing squarely in the semiconductor space. MU and SNDK top the positive bets table. Both stocks have surged hard in 2026 — Micron is up 102% year-to-date. Sandisk has gained an eye-watering 429%.
Traders are not done yet. Positive options bets in NVDA and AMD remain heavy. Both stocks are drawing two-sided flow. NVDA also leads the negative bets table, alongside Micron. That split signals investors are hedging existing gains rather than making fresh bearish calls.
INTC tells a different story. It sits in the top negative bets list. Yet it is also attracting heavy positive flow. Intel is up 160% year-to-date. Options traders are taking profits on both sides of the book.
Outside chips, META and TSLA see the largest bearish contract volumes this week. Meta's RSI has slipped to 39.9. That is in oversold territory. The put activity may reflect concern rather than conviction.
ARM is worth watching. The chip designer beat earnings estimates and guided Q1 revenue to $1.255B–$1.265B. Options expiries are clustered in May and June. That near-term concentration suggests traders expect the guidance catalyst to resolve quickly.
DVN energy options stand out too. Devon Energy is up 40% this year. Options flow is active through July. Energy bulls are pushing out their expiry dates. That points to longer-duration confidence in the oil sector.
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.
