Options markets are flashing defensive signals across several high-profile names this week, with earnings catalysts and macro turbulence driving unusual positioning.
GameStop is the standout. ORTEX flagged deepening options defensiveness ahead of an upcoming investor call. Short interest sits at 13.3% of free float. The nearest expiry cluster runs June 12 and June 18. Put volume is the dominant flow as traders position for downside risk.
CoreWeave faces its most closely watched test. The AI infrastructure firm reports earnings June 8. Options chains show expiries as tight as June 12 and June 22, bracketing the print closely. Short interest is elevated at 17.8% of free float. Bears are reloading — the CEO selling into weakness adds another bearish layer.
Marvell Technology suffered its worst chip-sector day in six years Friday. Short interest is a modest 3.7% of free float. But options expiry windows stretch deep into August, suggesting traders are hedging a prolonged recovery period rather than a quick bounce.
Apple faces a binary moment at WWDC. The options calendar is unusually dense — 27 expiry dates through early September. That reflects intense speculative positioning around the AI strategy reveal. Short interest is just 1.1%, so the options flow here is dominated by directional calls rather than short hedging.
The macro backdrop complicates all of it. The S&P 500 posted a $1.8 trillion wipeout Friday after a blowout jobs report raised rate-hike fears. That has pushed broad defensive options positioning sharply higher into the weekend.
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.
