Three names are drawing unusual options attention Tuesday. Catalysts are driving short-term expiry demand across sectors.
Microsoft Build drives near-term call action. MSFT is live-streaming its Build 2026 developer conference. CEO Satya Nadella unveiled the Cobalt 200 chip and Surface RTX Spark Dev Box. The stock's options chain shows dense open interest stacking across the June 18 expiry. Deep in-the-money puts at strikes from $300 downward show negligible premiums — reflecting the market's confidence MSFT stays elevated. The stock sits near all-time highs with a $3.4T market cap and tiny short interest of just 1%.
Signet jumps on raised guidance. SIG shares rose sharply after the jeweler raised its full-year outlook and announced share buybacks. Short interest sits at 14.5% of free float. Options expiries run through July 17. With availability at 462% of short interest, there is ample stock to borrow — bear traders are clearly present. A buyback plus guidance raise creates textbook squeeze conditions.
FedEx Freight spin-off unlocks value bets. Analysts flagged cost savings and buyback potential at FDX following progress on the FedEx Freight separation. Options expiries extend to late July. At just 1.8% short interest and near-unlimited borrow, the options flow leans bullish. Near-dated call activity around June and July strikes reflects traders positioning for re-rating momentum.
SMCI stays in crosshairs. SMCI remains active in tandem with AI hardware news from Microsoft. Short interest of 15.3% and cost to borrow near 38 basis points keep downside hedging in play. Options traders are watching both sides heading into mid-June.
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.
