Options sentiment is shifting fast. Call buyers are driving the market across several high-profile names. Shorts are retreating at the same time.
Aurora Innovation is one of the clearest signals. The autonomous vehicle company carries 13.9% short interest as a percentage of free float. ORTEX data shows shorts covering aggressively. Options sentiment has firmed alongside the retreat. Expiries run through July, giving bulls room to run.
IonQ tells a different story. Short interest sits at a heavy 19.4% of free float. Availability of shares to borrow is razor thin at just 12.3% of SI. Rising options hedging is appearing as shorts continue to cover. That combination can accelerate moves quickly.
SAIC heads into its Monday earnings print with an unusually bullish options setup. Put/call ratios have dropped to a year-low. Traders are clearly positioned for upside. The defense IT firm carries only 6.9% short interest and deep borrow availability.
Five9 shows call buyers driving the stock higher even as short sellers rebuild positions. SI stands at 15.5% of free float. The tug-of-war between fresh shorts and call momentum makes this name volatile near-term.
Galaxy Digital is the standout crypto name. Shorts covered hard after earnings. The options chain spans into late July. Borrow availability remains healthy at 121% of SI, meaning new short positions remain possible but the trend is against them.
The broader tech tape shows the same bullish tilt. The Direxion 3x Tech ETF TECL saw call traders chase leverage as the tech rally extended this week.
This article is for informational purposes only and does not constitute 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.
