Fed minutes dropped a bombshell on Wednesday. Officials signalled they could raise rates rather than cut. Options traders reacted fast.
SPY and QQQ saw a surge in near-term put activity. Both ETFs carry dense expiry ladders through late May and June. That concentration of short-dated options suggests traders are hedging hard into month-end. The June 18 expiry drew particularly heavy attention across both instruments.
INTU was one of the sharpest single-stock moves. Intuit announced it is cutting investments in Mailchimp and streamlining engineering. Options for the May 22 expiry saw a spike in puts. The stock carries a bearish 7-day options score on ORTEX data.
Zoetis stands out as the most bearish large-cap options signal. The stock is down 38% year-to-date. Its RSI sits at just 23.6 — deeply oversold territory. The ORTEX 7-day options score is among the lowest for names above $5B market cap. Analysts still see 58% upside from current levels. That divergence is drawing speculative put interest.
NVDA remains at the centre of unusual call activity. The chip giant is up 19% year-to-date. Its August 21 expiry draws significant open interest. Traders appear to be positioning for continued momentum through earnings season.
Live Nation shows a high ORTEX short score of 65.8 and 10.2 days to cover. Options activity here skews defensive. The Fed hawkish pivot adds pressure to leisure and consumer discretionary names.
This is not financial advice. Options data via 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.
