Options traders are loading up on downside protection ahead of a busy earnings stretch. Several names show heavy put open interest heading into this week's June 18 expiry.
CRWD has the most active options chain in this cohort. Deep out-of-the-money puts dominate open interest at the June 18 expiry. The $185 put strike alone holds 678 contracts in volume — well above comparable call strikes. This skew signals traders remain cautious despite CrowdStrike's recent run.
DELL stands out for a different reason. A major shareholder cashed out $389 million in stock this week. Short interest in Dell has since dropped from 7.05% to 5.87% of free float over the past month — a meaningful squeeze. Yet the options chain spans 18 expiry dates out to September, showing sustained trader interest.
HTZ carries a packed calendar through July 31. Hertz is heavily shorted and appears alongside Avis Budget as a bearish target in ORTEX data. Options traders can position cheaply against both rental names.
HOOD has 11 active expiries with weekly flow running into late August. The platform saw notable insider-linked news this week. The July 17 expiry is the clear focus for sentiment bets.
Kroger anchors the consumer staples theme. It reports earnings this week. The July 17 expiry draws the most open interest. Put volume at near-money strikes is elevated relative to calls — a cautious stance ahead of results.
The broader macro backdrop adds weight. Oil is near three-month lows after US-Iran deal progress. Gold hit a six-month low. Risk appetite is mixed — and options flow reflects that uncertainty precisely.
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.
