The first real challenge to the AI-buildout washout is VRT, sharply higher before the bell after quarterly results and a raised full-year outlook, while chips and industrials are also bid. If VRT holds after the open and strength spreads into other power names, yesterday’s all-red infrastructure tape may be starting to turn; an isolated fade would leave it as an earnings exception. Energy is bid again, reinforcing the recent rotation toward oil and gas, though that read weakens if the sector gives back the early move. CDNS still carries heavy downside protection after its earnings bounce; losing that bounce would validate the caution, while continued strength would blunt it. GOOGL and MSFT report tonight, and their reactions will show whether the market is ready to look through the infrastructure slump or extend it into the largest software names.
Read the full edition →SPY +0.2%, QQQ +0.4%, IWM +0.0%. 110 liquid stocks up 2% or more, 52 down. Leading chips +1.1%, lagging health care -0.7%.
Up: AXGN +17.4%, VRT +15.4%, UCTT +14.3%, FLEX +12.8%
Down: ENPH -20.2%, BSX -11.9%, LOGI -11.9%, SEDG -9.3%
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 · 28 down of 44 | 64% vs 44% market | 3 8-Ks filed into the theme: GLXY, ENPH, UCTT; 3 new dated views (3 bullish): Steve Grasso, Karen Finerman (Metropolitan), Guy Adami (RiskReversal) |
| Defense & drones | 1 up · 8 down of 15 | 60% vs 44% market | 2 new dated views (2 bullish): Lauren Sanfilippo, Jim Cramer (CNBC) |
| Energy (oil & gas) | 16 up · 0 down of 23 | 70% vs 44% market | 1 8-K filed into the theme: NBR |
| Nuclear & uranium | 0 up · 6 down of 11 | 55% vs 44% market | 9 pts fewer of its names moving than last edition; 1 8-K filed into the theme: MIR |
| Power & the grid | 0 up · 7 down of 9 | 78% vs 44% market | 1 8-K filed into the theme: ITRI; 1 new dated view (1 bullish): Mark Haefele |
| Robotics & autonomy | 1 up · 5 down of 13 | 46% vs 44% market | unchanged |
| Space | 1 up · 8 down of 12 | 75% vs 44% market | unchanged |
| Name | Price | IV | Own-yr pctile | Why today | Example contract (last close) |
|---|---|---|---|---|---|
| AMZN Retail Earnings in 2d | $253.76 | 49.2 | 91 | high vol, top of its year | Dec 4 $225p · $2.9 bid ≈ 1.29% / 38d |
| Name | What | Volume vs normal | Calls / puts | Stock move |
|---|---|---|---|---|
| REPL $13.10 | long-dated call build | 14.0× 18,893 contracts | 65% calls · 35% puts | +3.97% day · +13.9% week |
| RRC $56.38 | long-dated call build | 6.2× 9,174 contracts | 73% calls · 27% puts | +6.36% day · +29.2% week |
| BETR $20.07 | long-dated call build | 3.1× 5,067 contracts | 86% calls · 14% puts | +12.94% day · +57.3% week |
| WGMI $31.27 | options volume out of the ordinary | 9.9× 6,855 contracts | 99% calls · 1% puts | +6.91% day · -3.8% week |
| CDNS $343.00 | downside bought | 11.2× 35,283 contracts | 31% calls · 69% puts | +4.02% day · +7.0% 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: 71 new ideas from 156 new videos since the last edition. Convergence lives in Idea Scout on Sunday.