Options markets are flashing bullish across the semiconductor space this week. Positive bets dominated bearish flow for several of the biggest chip names, with NVDA, MU, and AMD all drawing heavy call-side interest.
Micron Technology tops the bearish-flow leaderboard by raw volume — but the call side is punching harder. The stock is up 172% year-to-date. RSI sits at 75.6. Options activity is building ahead of its Q2 earnings report.
MACOM Technology Solutions caught fire this week. The stock is up 124% YTD. Options sentiment is running hot, with RSI at 83.3. That reading is elevated enough to signal short-term exhaustion risk, yet buyers keep coming.
Centene is the biggest surprise on the options board. Up 43% this year, it logged the highest positive options score of any large-cap. Traders are pricing in continued momentum. Expiries cluster near-term, pointing to tactical bets rather than long-horizon hedges.
CVS Health is also drawing call flow. RSI hit 78.4. The stock is up 24% YTD. The options market is backing a healthcare rotation that has gathered steam through May.
On the bearish side, Tesla and Intel attract the most put volume. INTC is up 226% YTD. That run has bears loading puts via June and August expiries, betting the rally exhausts itself.
Joby Aviation stands out for a different reason. It carries a 7.6-day days-to-cover reading and a short score of 67. Options activity there leans bearish. The stock is down 19% YTD and sentiment has not recovered.
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.
