The pre-market adds a sharper edge to last night's read: chips are being sold aggressively before the open, and INTC is taking another brutal hit on no new headline — just a price target cut from a bank still rating it Outperform. DELL and HPQ are both off sharply with no company-specific earnings headlines, which reads as hardware being repriced on sector sentiment rather than company news. RDDT and TWLO are each down hard on their own results, extending the damage into communications software — this is no longer a single-name story. Staples, healthcare, and energy are the only sectors with meaningful bids before the bell, which is rotation, not a rally. The overnight confirmation test on AMZN lands cautiously: the stock is not in the pre-market down list, which is the mildest positive in an otherwise punishing tape for anything touching AI hardware. If the open holds this shape — chips and tech sold, defensives bid — the selling is broadening from individual names into a theme. The energy read from last night remains intact.
Read the full edition →SPY -1.1%, QQQ -2.6%, IWM -0.7%. 80 liquid stocks up 2% or more, 305 down. Leading staples +2.4%, lagging chips -5.3%.
Up: CPRI +10.9%, BTSG +7.1%, CVCO +7.1%, MDLZ +6.9%
Down: INTC -25.2%, RDDT -21.4%, TWLO -20.4%, RBLX -16.1%
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 40 | 80% vs 50% market | 12 pts more of its names moving than last edition; 4 8-Ks filed into the theme: HIVE, BDC, AXTI, ORBS; 6 new dated views (3 bullish): Unknown, Steve Eisman, G T Patel, Gary Cohn |
| Defense & drones | 4 up · 6 down of 19 | 53% vs 50% market | 7 pts fewer of its names moving than last edition; 3 8-Ks filed into the theme: CDP, OSIS, KBR |
| Energy (oil & gas) | 10 up · 0 down of 19 | 53% vs 50% market | 21 pts fewer of its names moving than last edition; 4 8-Ks filed into the theme: PTEN, RES, WTI, INVX; 1 new dated view (0 bullish): Chris Verrone |
| Nuclear & uranium | 1 up · 6 down of 11 | 64% vs 50% market | 9 pts more of its names moving than last edition; 1 8-K filed into the theme: LEU |
| Power & the grid | 0 up · 5 down of 7 | 71% vs 50% market | 28 pts more of its names moving than last edition; 1 8-K filed into the theme: SEI |
| Robotics & autonomy | 2 up · 6 down of 13 | 62% vs 50% market | 12 pts more of its names moving than last edition |
| Space | 2 up · 7 down of 12 | 75% vs 50% market | 7 pts fewer of its names moving than last edition |
| Name | Price | IV | Own-yr pctile | Why today | Example contract (last close) |
|---|---|---|---|---|---|
| XOM Oil & Gas | $184.72 | 31.8 | 84 | high vol, top of its year | Dec 4 $170p · $1.83 bid ≈ 1.08% / 36d |
| IBM Tech Hardware | $255.0 | 40.0 | 78 | high vol, top of its year | Dec 4 $235p · $2.52 bid ≈ 1.07% / 36d |
| Name | What | Volume vs normal | Calls / puts | Stock move |
|---|---|---|---|---|
| AES $15.05 | long-dated call build | 13.8× 10,015 contracts | 86% calls · 14% puts | +0.47% day · +0.4% week |
| IR $80.01 | long-dated call build | 14.4× 5,225 contracts | 64% calls · 36% puts | +6.04% day · +8.0% week |
| EPD $39.07 | long-dated call build | 11.2× 53,734 contracts | 96% calls · 4% puts | +2.71% day · +7.0% week |
| CROX $149.75 | downside bought | 14.4× 11,446 contracts | 33% calls · 67% puts | +25.31% day · +25.4% week |
| SFM $47.89 | downside bought | 14.3× 27,950 contracts | 31% calls · 69% puts | +0.29% day · -30.3% week |
| FTNT $137.65 | downside bought | 11.6× 91,644 contracts | 37% calls · 63% puts | +6.43% day · -20.7% 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: 113 new ideas from 183 new videos since the last edition. Convergence lives in Idea Scout on Sunday.