Options flow tells a two-track story today. Chip stocks are drawing the heaviest bullish bets. Energy names are seeing defensive activity as geopolitical risk builds.
Micron Technology tops the positive options bets leaderboard over the past seven days. The stock is up 162% year-to-date. RSI sits at 85.8 — deep overbought territory. Despite that, call buying has not let up. Advanced Micro Devices sits in second place with similarly elevated positive flow and a 113% gain in 2026.
NVIDIA rounds out the top three. The EU is reported to be in talks to join a US-led tech supply chain alliance. That news has added fresh fuel to semiconductor call activity.
On the bearish side, Sandisk tops the negative bets table. The stock has surged 552% YTD. Options sellers are clearly questioning how far this can run.
The macro backdrop is shifting fast. Kevin Warsh was confirmed as Federal Reserve Governor today. SPY options show 44 active expiry dates extending out to August 2026. That suggests traders are positioning across a wide range of macro outcomes.
The Iran conflict is the wildcard. Strait of Hormuz closure fears are pushing oil higher. Saudi Aramco warned this week that fuel stocks are at "critically low levels". Diamondback Energy carries a 30% YTD gain and rising options interest.
QXO stands out for a different reason. Days-to-cover hit 22. Its short score is 79. Options expiries run out to July. That combination screams potential squeeze setup.
Not financial advice. Data sourced from ORTEX.
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.
