Macro fears are driving unusual options positioning today. Oil and gold dominate the sentiment landscape as traders react to Iran deal talks and a multi-month slump in bullion.
Crude oil puts surging. Trump signalled a US-Iran deal is close. That sent oil to a three-month low. USO options show near-term expiries stacking up through June 26, pointing to traders hedging for further downside. The September 2026 expiry holds substantial open interest, suggesting longer-dated bears haven't given up.
Gold near 6-month low. GLD options chains stretch out to September 2026. Speculative investors have been exiting gold aggressively. The FT reports bullion is on track for its worst quarter in nearly a decade, with the SpaceX IPO drawing capital away from safe-haven trades.
FRHC borrow squeeze tightens. FRHC short interest utilisation hit 92.89%, near its 52-week high of 100%. Availability of shares to borrow dropped to just 8.06% of SI. That combination makes new short positions extremely expensive. Options into June 18 are the only near-term play available.
ON Semiconductor gets fresh attention. ON is seeing discussion after a 15-year performance review went viral. Its SI sits at 7.8% of free float. Short availability is extremely loose at 1,259% — suggesting bears have room to pile in if sentiment turns.
TSLA momentum softening. Its ORTEX stock score fell from 71.4 to 66.1 over the past month. Momentum dropped from 56 to 51. The June 18 and July 17 expiries carry the heaviest options interest as traders weigh the stock's near-term direction heading into summer.
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.
