The pre-market confirms both reads from last night: energy is bid — health care and staples are leading alongside it, a defensive tilt unusual for a tape the voice board still describes as broadly bullish on equities. Halliburton beat its quarter and is up before the open, adding fundamental support to the energy outperformance. Chips are the hardest-hit sector; AI infrastructure names are pulling lower without company-specific news and NuScale Power is down sharply with no headline, extending the pressure on the AI-adjacent themes that have struggled for a month. GE and NFLX report today with options near the richest premium of their respective years; GE is quiet pre-market and the print is the test. GM is down sharply despite announcing a large buyback, which is the tape saying capital returns are not enough without earnings behind them.
Read the full edition →SPY -0.1%, QQQ -0.4%, IWM +0.1%. 26 liquid stocks up 2% or more, 104 down. Leading health care +0.8%, lagging chips -1.2%.
Up: BRZE +51.3%, KVYO +11.4%, HUBS +4.1%, HAL +3.8%
Down: SMR -7.4%, GM -6.2%, STLD -4.6%, NBIS -4.2%
Liquid = average daily volume of $50M or more; names with $1M or more traded since 04:00 ET; ETFs left out.
Its move, its options volume, the put at the bid and the ten-year one-lot history, for every stock you follow. Follow from any stock page.
Find a stock →| AI & data centers | 0 up · 27 down of 41 | 66% vs 45% market | 12 pts more of its names moving than last edition; 6 new dated views (4 bullish): Dan Ives, Paul Sweeney, Angelo Zino, Chris Harvey |
| Defense & drones | 0 up · 10 down of 16 | 62% vs 45% market | 2 new dated views (2 bullish): Skylar Winan, Neil Howe |
| Energy (oil & gas) | 10 up · 0 down of 20 | 50% vs 45% market | 30 pts more of its names moving than last edition; 6 new dated views (6 bullish): Lyn Alden, Paisley Nardini, Chamath Palihapitiya, Patrick Ceresna (Macro Voices) |
| Nuclear & uranium | 1 up · 7 down of 12 | 67% vs 45% market | 8 pts fewer of its names moving than last edition; 1 8-K filed into the theme: LEU |
| Power & the grid | 0 up · 6 down of 8 | 75% vs 45% market | 12 pts more of its names moving than last edition; 1 8-K filed into the theme: EOSE |
| Robotics & autonomy | 0 up · 7 down of 13 | 54% vs 45% market | unchanged |
| Space | 0 up · 9 down of 12 | 75% vs 45% market | unchanged |
| Name | Price | IV | Own-yr pctile | Why today | Example contract (last close) |
|---|---|---|---|---|---|
| CSCO Tech Hardware | $106.65 | 41.3 | 85 | high vol, top of its year, post-drop | Nov 20 $96p · $1.55 bid ≈ 1.61% / 32d |
| VZ Telecom Earnings in 7d | $44.25 | 30.6 | 94 | high vol, top of its year | Nov 27 $41p · $0.17 bid ≈ 0.41% / 39d |
| CVX Oil & Gas | $224.63 | 31.1 | 91 | high vol, top of its year | Nov 20 $210p · $2.34 bid ≈ 1.11% / 32d |
| Name | What | Volume vs normal | Calls / puts | Stock move |
|---|---|---|---|---|
| EL $105.78 | long-dated call build | 17.7× 49,016 contracts | 86% calls · 14% puts | +1.19% day · +5.7% week |
| KEY $19.92 | long-dated call build | 4.2× 7,992 contracts | 77% calls · 23% puts | -0.35% day · -1.3% week |
| BOX $40.55 | long-dated call build | 4.7× 4,667 contracts | 82% calls · 18% puts | +3.00% day · +10.5% week |
| DXC $14.00 | options volume out of the ordinary | 16.8× 8,201 contracts | 99% calls · 1% puts | +2.79% day · +11.6% week |
| SBLK $28.64 | options volume out of the ordinary | 9.5× 15,201 contracts | 99% calls · 1% puts | +3.28% day · -4.0% week |
| M $23.56 | downside bought | 8.9× 73,576 contracts | 10% calls · 90% puts | -1.83% day · +2.9% week |
This is activity, not a reading on premium: who traded size, in what, leaning which way. Volume = settled options volume against the name’s own normal, with the contracts traded under it. Calls / puts = the split of that volume. Stock move = last session and last five sessions.
Board delta: 122 new ideas from 64 new videos since the last edition. Convergence lives in Idea Scout on Sunday.