1. $NVDA calls are still running the show, P/C down at 0.57, but the real story is IV: the Aug 28 chain is pricing 95-99% across every strike, way outside the normal range for this name. That's earnings-week pricing, not a random Tuesday. If you're holding calls into that print, the crush after could eat the juice fast, might be worth trimming or rolling before the number instead of after.
2. $SMH flipped put heavy again, P/C at 1.27, and this time it looks like fresh positioning: the $515, $525 and $530 puts for Sept 1 are seeing thousands of contracts trade against open interest sitting in the teens and twenties, new hedges getting built from scratch. Meanwhile the $560 calls expiring today are pricing 72% IV against a 40ish percent baseline elsewhere on the chain, juicy for anyone renting out SMH into the close, if you can stomach the chop.
3. $AMD is call heavy, P/C 0.55, but the tell is the $500 calls for Friday pricing 61% IV while the rest of the board sits around 42%. Spot's at $482.65, so that's roughly a 3.6% pop needed by expiry. Speculative money chasing a breakout, not exactly a covered-call setup.
Aggregated and distilled by Two Sentence Traders. Not financial advice.