Options bulls are piling into semiconductors. Bullish bets over the past seven days are highest in MU, SNDK, and AMD — three chipmakers that have each surged over 100% year-to-date.
MU leads the pack on positive options flow. The stock is up 162% in 2026 and carries an RSI of 83.8. That puts it deep in overbought territory. Traders are buying calls aggressively despite the stretched valuation.
SNDK is the year's most dramatic story. Shares are up 558% in 2026. Positive options bets rank second-highest market-wide. Yet analyst consensus is cautious — the return potential estimate sits at -10%. The disconnect between price and fundamentals is stark.
AMD ranks third on bullish options flow. It is up 113% this year. RSI stands at 80.8. Like its peers, the options market is leaning heavily call-side.
NVDA also sees strong bullish positioning. It has expiries running daily through June. The $5.2 trillion market cap giant has near-term contracts stacked every 24 hours — a sign traders are hunting short-duration gains before its next earnings print.
In the Middle East risk trade, airlines are drawing attention after a Frontier jet struck a pedestrian in Denver. DAL and UAL both carry options chains extending to July. Traders are watching whether incident-related headlines shift sentiment on the sector into the weekend.
The broader market via SPY shows expiry density at an extreme. Contracts settle every single day this week through Friday. That level of near-term activity signals traders are positioning tactically around macro events rather than taking directional conviction further out.
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.
