To The Moon

Tech earnings start rolling out this week, likely performing similarly to TSMC last week: fundamentally positive but failing to lift stock prices. This isn't necessarily due to a lack of appeal in the AI narrative; it might be that investors are leaning towards watching macroeconomic risks.

Overall, put options remain split between two extremes. Barring any black swan events, this week's price action should resemble last week's. Some stocks even appear less tense by comparison.

$NVIDIA(NVDA)$

Bearish options show extreme positioning, with 14,000 contracts of weekly deep out-of-the-money 150 puts $NVDA 20251024 150.0 PUT$  opened, suggesting a potential black swan risk this week. Without a black swan event, expect support levels similar to last week, between 172.5 and 177.5 $NVDA 20251031 177.5 PUT$  $NVDA 20251031 172.5 PUT$ .

Institutional bullish call spreads have strike prices similar to last week: sell 187.5, buy 195 calls $NVDA 20251031 187.5 CALL$  $NVDA 20251031 195.0 CALL$ . It appears LRCX and INTC earnings had little impact on Nvidia.

$Tesla Motors(TSLA)$

Earnings are this week. Q3 deliveries beat expectations, but institutions attribute this to pull-forward demand from expiring tax incentives. The key focus is Q4 guidance.

Stock volatility is similar to last week. The large bullish call spread last week had strikes at 445 and 470; this week's primary range is sell 452.5–457.5 / buy 480–485 $TSLA 20251024 452.5 CALL$  $TSLA 20251024 480.0 CALL$ .

Significant out-of-the-money put buying occurred, potentially linked to recent auto supply chain company issues. Overall, expect range-bound trading between 400 and 470.

$SPDR S&P 500 ETF Trust(SPY)$

This week's expected trading range for SPY is more optimistic than last week at 655–675, with an extension view up to 680 and a potential dip to 645.

$Advanced Micro Devices(AMD)$

Institutions are selling the 245 call $AMD 20251024 245.0 CALL$  and buying the 260 call $AMD 20251024 260.0 CALL$ , unchanged from last week.

Notably, put support is quite optimistic and surprisingly, the stock appears unlikely to break below 210 this week $AMD 20251024 210.0 PUT$ .

$Intel(INTC)$

Still struggling to break 40, but a large bullish position was opened: 12,000 contracts of the May 2026 50 call $INTC 20260515 50.0 CALL$ . This seems to reflect confidence in US government backing.

$Apple(AAPL)$

Sentiment is very bullish, with a potential near-term push towards 280. A large bull call spread was observed: buy $AAPL 20251121 260.0 CALL$ , sell $AAPL 20251121 280.0 CALL$ .

Additionally, institutions raised the strikes on their weekly arbitrage spreads from 250–252.5 last week to sell $AAPL 20251024 255.0 CALL$  / buy $AAPL 20251024 262.5 CALL$  this week.

$Amazon.com(AMZN)$

Amazon appears relatively weak. Last week's spread was 222.5–227.5; this week's call spread has lower strikes: sell $AMZN 20251024 217.5 CALL$  / buy $AMZN 20251024 225.0 CALL$ .

$Palantir Technologies Inc.(PLTR)$

Positioning is unchanged from last week: sell $PLTR 20251024 187.5 CALL$  / buy $PLTR 20251024 197.5 CALL$ .

$CoreWeave, Inc.(CRWV)$

The change from last week is that the put leg now has two parts, indicating hedging – likely the original put was sold: sell $CRWV 20251024 143.0 CALL$  / sell $CRWV 20251024 121.0 PUT$  / buy $CRWV 20251024 110.0 PUT$ .

This suggests an expected pullback to 121 at minimum, but with a hedge at 110 in case of a breakdown.