Semiconductor stocks dominate unusual options flow this week. Both bullish and bearish bets are piling into the same names.
Micron Technology leads the options board for negative bets over the past seven days. It also tops the positive bets list. That two-sided pressure is a clear signal of elevated uncertainty. The stock is up 127% year-to-date, making options premiums rich for both sides.
NVIDIA shows a similarly split picture. Options expiries stretch out to July 2026, with active strikes across nearly every weekly date through May. That density of near-term contracts points to traders positioning ahead of the company's Q1 FY2027 earnings. The RSI sits at 63, not extreme but trending higher.
Advanced Micro Devices echoes the same pattern. Up 97% year-to-date, its RSI has climbed to 76. Negative options bets rank near the top of the market. That level of put activity following such a large rally suggests hedging, not fresh conviction.
Away from chips, RXO caught attention. ORTEX flagged the logistics stock heading into Tuesday's earnings print with the options market showing a sudden flinch — a shift in sentiment just before the bell.
Intuitive Machines sees options expiries running all the way to July, with insiders selling into the rally ahead of Monday's print. Options traders appear cautious.
The broader market also shows nerves. QQQ options run through August 2026, with daily expiries active every week. That near-term density reflects traders hedging around Middle East tensions and Iran war fears weighing on global sentiment.
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.
