Options traders turned cautious on several names ahead of earnings this Friday, with defensive positioning the clearest signal in today's flow.
HON options skewed sharply bearish before today's earnings print. Traders loaded puts into the near-dated May 22 expiry. Honeywell carries a $137.7B market cap and short interest of just 1.98% of free float — so this is a pure options play, not a short squeeze setup.
BJ showed its sharpest options skew in nearly a year ahead of today's results. The wholesale retailer has 5.6% of its free float sold short. Options availability stands at 591% of short interest. That leaves room for aggressive directional bets in either direction.
FLO is attracting bears even after a post-earnings selloff. Flowers Foods carries 16.9% short interest as a % of free float — one of the higher readings in the consumer staples space. Bears are holding ground. Only June and July expiries are available, limiting tactical flexibility.
On the macro side, CVX options remained active as Iran tensions kept energy traders on edge. California Governor Gavin Newsom publicly targeted Chevron, adding political risk to an already volatile energy backdrop.
NVDA options span 26 expiries out to August. Despite post-earnings "noise" commentary, trader interest remains elevated. Short interest sits at just 1.2% of free float. The options market is the primary arena for NVDA positioning.
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.
