Western Digital Surges 13.5% Pre-Market After Micron Earnings Boost
WDC•Western Digital jumped 13.5% in pre-market trading, snapping a three-day losing streak and nearing its June 18 record high. The 50-day put/call volume ratio sits in its 96th percentile, while Schaeffer's open interest ratio of 1.34 ranks in the 98th percentile, marking heavy bearish sentiment.
1. Pre-market Rally and Record High Approach
Western Digital opened with a 13.5% pre-market gain, breaking a three-day slide and closing the gap on its June 18 all-time high.
2. Elevated Bearish Options Betting
The stock's 50-day put/call volume ratio stands in the 96th annual percentile, while Schaeffer’s put/call open interest ratio of 1.34 ranks in the 98th percentile, underscoring pronounced bearish positioning.
3. Short Interest Climbs
Short interest rose by 9.4% over the last two reporting periods, now representing 9.3% of the float or roughly four days of buying pressure to cover.
