Options traders circled several high-profile names on Thursday. Three tech stocks drew heavy bearish attention after disappointing reactions to earnings beats.
AVGO (Broadcom) led the headlines. Shares dropped 12% Thursday after its revenue outlook missed expectations. The options chain shows expiries stretching out to August — traders are pricing in continued volatility on the $2.3 trillion chip giant. Short interest remains low at 1.1% of free float, so the options market is the primary venue for bears.
DOCU (DocuSign) beat and raised in Q1, yet the stock fell anyway. Short interest has risen steadily to 8.7% of free float — up from 7.6% a month ago. The options market reflects that scepticism. Near-dated expiries (June 5, June 12) carry active positioning heading into the weekend.
RBRK (Rubrik) slipped despite beating Q1 estimates and raising guidance. SI stands at 10.2% of free float. Options expiries cluster tightly around June, suggesting traders want short-dated exposure to any further downside.
CRSR (Corsair Gaming) stands out for pace of change. Short interest jumped 42.6% in one week to 7.77% of float. Cost to borrow surged 375% to 2.04%. The options chain is thin — only three expiry dates available — but the rapid tightening in borrow suggests positioning is being built fast through the stock itself ahead of June earnings.
Broadcom's 12% drop marks one of the biggest single-day valuation wipeouts in recent memory. Options traders across the board appear to favour near-term expiries this week, keeping event-driven risk at the forefront.
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.
