Earnings, Bears, and a Busy Week Ahead

Earnings Calendar Stacked

This week is packed with high-profile earnings. KMX (CarMax) kicks off Tuesday at 8am ET. Used-car demand and consumer credit will be in focus. JBL (Jabil) follows as a key supply chain bellwether. KR (Kroger) reports Wednesday. Grocery margins under pressure will draw attention. PGR (Progressive) closes the week for financials.

Short Sellers Pick Their Targets

Bears are active heading into the prints. KDP short interest just hit a new high ahead of its June 16 report. EXLS shorts climbed 28% with options turning skewed. Car rental stocks remain under heavy siege. Avis Budget sits at 45.8% SI and Hertz at 44.5%. Hertz shares are nearly impossible to borrow — availability is just 14%.

SAIL faces a second earnings event in a week with sentiment decisively shifted. Nuvalent heads into Monday's print with Wall Street broadly sidelined.

Crypto Positioning Heats Up

Coinbase options are flashing an alarm signal with earnings three days out. Unusual activity is building across the crypto complex. Galaxy Digital is being swept into the same positioning wave.

Macro: Oil and Insider Signals

Macro pressure is coming from energy. Trump's Iran deal signals pushed crude to a three-month low. Oil bears are stacking near-term puts in USO. Meanwhile, Dell insiders filed over $415 million in sales this week — five executives selling in unison is a notable signal. On the buy side, Robinhood drew a $20.2 million institutional insider purchase from backer Ribbit Capital.