The biggest pre-market move isn't in AI names — it's in cell towers. Reports that SpaceX is seeking tens of thousands of cell sites to build a rival carrier have Crown Castle, American Tower, and SBA Communications all sharply bid before the open, while T-Mobile is down on the same news. That winner-loser split across infrastructure is the sharpest directional signal this morning. Energy is also in the green, confirming last night's read that the old-economy end of the power story is still working where the AI-complex names are not. The broad index is modestly lower, with many more liquid names gapping down than up — the tape is soft, not a clean rotation. GOOGL, MSFT, and AMZN all report within the next week; those prints remain the real test of whether AI capex enthusiasm survives earnings season.
Read the full edition →SPY -0.4%, QQQ -0.3%, IWM -0.6%. 20 liquid stocks up 2% or more, 49 down. Leading real estate +1.2%, lagging communication -1.1%.
Up: RNG +14.8%, CCI +12.5%, SBAC +10.5%, AMT +10.2%
Down: LKQ -17.3%, TNGX -13.3%, DECK -8.1%, FLG -7.8%
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 · 32 down of 42 | 76% vs 54% market | 13 pts more of its names moving than last edition; 1 8-K filed into the theme: MXL; 6 new dated views (4 bullish): Cameron Dawson, Torsten Slok, Adam, Unknown |
| Defense & drones | 1 up · 9 down of 17 | 59% vs 54% market | 2 8-Ks filed into the theme: UMAC, ENVX; 1 new dated view (1 bullish): Unknown |
| Energy (oil & gas) | 8 up · 2 down of 17 | 59% vs 54% market | 6 pts more of its names moving than last edition; 3 new dated views (2 bullish): David Lebovitz, Lou Basenese, Jonathan |
| Nuclear & uranium | 0 up · 8 down of 11 | 73% vs 54% market | 7 pts fewer of its names moving than last edition; 1 new dated view (1 bullish): Unknown |
| Power & the grid | 0 up · 7 down of 8 | 88% vs 54% market | 12 pts more of its names moving than last edition; 1 8-K filed into the theme: AESI; 3 new dated views (3 bullish): Kevin Mahn (Hennion & Walsh), Chris Harvey, Unknown |
| Robotics & autonomy | 1 up · 6 down of 11 | 64% vs 54% market | 14 pts more of its names moving than last edition |
| Space | 1 up · 8 down of 12 | 75% vs 54% market | 7 pts fewer of its names moving than last edition |
| Name | Price | IV | Own-yr pctile | Why today | Example contract (last close) |
|---|---|---|---|---|---|
| GOOGL Software Earnings in 6d | $324.29 | 45.2 | 94 | high vol, top of its year, post-drop | Dec 4 $295p · $3.15 bid ≈ 1.07% / 43d |
| ORCL Software | $125.21 | 72.1 | 86 | high vol, top of its year, post-drop | Nov 20 $110p · $2.7 bid ≈ 2.45% / 29d |
| AMD Semis | $505.74 | 64.2 | 76 | high vol, top of its year, post-drop | Nov 27 $440p · $11.65 bid ≈ 2.65% / 36d |
| AMAT Semis | $374.94 | 59.7 | 75 | high vol, top of its year, post-drop | Nov 20 $330p · $7.05 bid ≈ 2.14% / 29d |
| VZ Telecom Earnings in 4d | $43.51 | 40.6 | 100 | high vol, top of its year | Nov 20 $41.5p · $0.22 bid ≈ 0.53% / 29d |
| Name | What | Volume vs normal | Calls / puts | Stock move |
|---|---|---|---|---|
| QGEN $50.22 | long-dated call build | 5.1× 12,477 contracts | 75% calls · 25% puts | -0.10% day · +8.8% week |
| KMB $111.75 | long-dated call build | 2.5× 10,243 contracts | 77% calls · 23% puts | +5.40% day · +7.0% week |
| CSX $51.98 | options volume out of the ordinary | 11.6× 63,273 contracts | 96% calls · 4% puts | +3.61% day · +7.1% week |
| NDAQ $103.01 | options volume out of the ordinary | 11.3× 15,771 contracts | 60% calls · 40% puts | +7.63% day · +10.2% week |
| OMC $84.75 | options volume out of the ordinary | 10.3× 3,028 contracts | 72% calls · 28% puts | +5.28% day · +5.0% week |
| HELP $10.74 | downside bought | 7.9× 12,815 contracts | 10% calls · 90% puts | +0.37% day · -3.3% week |
| HWM $196.13 | downside bought | 7.0× 31,486 contracts | 28% calls · 72% puts | -5.77% day · -10.7% 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: 177 new ideas from 219 new videos since the last edition. Convergence lives in Idea Scout on Sunday.