Now I have enough data to write the article. The key signals are:
Iran's closure of the Strait of Hormuz is reshaping options flow. Traders are piling into near-dated puts on names exposed to inflation. The shift is visible in options sentiment across sectors.
Energy stocks XOM and CVX both show clustered expiries through May and June. Options markets are pricing in continued volatility as Saudi Aramco warned fuel inventories are falling at an "accelerating" pace.
Defensive names are drawing heavy call buying. (Prologis), (Chubb), and (General Dynamics) each scored 100% positive options flow over the past seven days. Aerospace and insurance are the clear rotation trade.
Bearish bets are most intense in healthcare. MCK (McKesson) shows an RSI of just 18 — deeply oversold — with options skewing negative. DHR (Danaher) is down 27% year-to-date. Its RSI sits at 26. Both stocks lead the most-bearish-options-flow list among large caps.
Semiconductors are split. MU and AMD rank at the top of negative-bet volume, even as their stocks are up 162% and 113% this year. Profit-taking via puts is the likely story. NVDA shows the market's most active options chain — 26 distinct expiry dates — with earnings still weeks away.
SMCI got a fresh Mizuho price target raise to $36 today. Options open interest around the May 15 expiry jumped immediately. Watch that name heading into the week's close.
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.
