Tech earnings are the key driver in options markets this week. Oracle and Adobe both report results, drawing concentrated options activity ahead of their prints.
ORCL carries active expiries stretching from this Friday through September 2026. Options chains show interest clustered around near-term dates — June 12, 17, and 18 — typical of traders positioning around an earnings binary. The stock is a $609 billion giant with short interest near just 2.1% of free float. That low short base amplifies upside moves if results beat.
ADBE shows a tighter expiry structure. June 12 is the nearest dated contract. With short interest at 4.8% of FF and a $99 billion market cap, the stock has more room for volatility in either direction.
The backdrop for both names is an AI-charged week. NVDA lit up newsflow this morning. Reports say OpenAI is in talks to lease a 10-gigawatt Ohio data centre backed by the chipmaker. NVDA carries a total ORTEX score of 82. Its options chain runs deep out to September 2026, reflecting broad market interest in the AI infrastructure theme.
Starbucks is a separate story. Bloomberg reported the company is weighing options for its Japan unit, including a stake sale. SBUX has 16 expiry dates active through September. Short interest sits at just 4.3% of FF, but the Japan news adds event-driven flow into its July and August contracts.
Microsoft options are also active this week, with SoftBank's stalled $6 billion OpenAI margin loan adding uncertainty to the broader AI financing narrative that underpins much of the sector's options premium.
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.
