1. $MU's tape is call heavy today, P/C down at 0.53. The $900 call, sitting well above the $879 spot, is running 62k contracts against just 4.5k open interest, that's fresh chasing not old positions rolling over. IV on that strike is up at 47%, so if you're already holding shares the premium out there is juicy right now. Not chasing it myself, just watching if $MU keeps ripping into that strike.
2. $SMH's P/C ticked down a touch to 1.63 from 1.69 a few days back, still the most put crowded name on the board. The $550 put is the one that stands out, IV sitting at 76% while everything else on this ticker runs 26-51%, that's real hedging money not noise. Semis crowd still isn't convinced the bounce holds.
3. $META's P/C sits at 0.32, call heavy, same story as a few days ago when it was 0.29. The $610 call is doing it again, 51k contracts traded against just 2,610 open interest, that's new money piling in above the $594 spot not old positions getting recycled. If it keeps running, call sellers up at that strike could get tested.
Aggregated and distilled by Two Sentence Traders. Not financial advice.