A quieter, two-sided week in the calm before the earnings wave: call buyers kept working names that report next week, while put buyers leaned on the bitcoin miners. The bigger story is what debuted: our first multi-leg strategy alerts hit the feed on Friday, both over $10M. Every trade below cleared the same bar our live flow feed applies: aggressive ask-side execution and verified order sides.
Missed last week's recap? View it here.
The Week's Top Flow
$1.8M Core Scientific call sweep
The largest print of the week: $1.8M in $CORZ calls at the $24 strike expiring September 18 (6% out of the money), swept at the ask on Monday and flagged live on X as it hit the tape. This one print carried 57% of the day's notable CORZ call flow, and it was already up 22% on next-session scoring (more below).
$1.1M AXT calls a week before earnings
$1.1M in $AXTI calls at the $60 strike expiring August 21 (5% out of the money), swept at the ask on Thursday as the fifth bullish AXTI sweep of the day and flagged live on X. AXT drew three flags this week, all ahead of its July 30 earnings report: steady accumulation into a known catalyst.
$664K TeraWulf puts
The bear side of the week's miner story: $664K in $WULF puts at the $18 strike expiring July 31 (8% out of the money), swept at the ask on Monday and flagged live on X. Short-dated downside on TeraWulf printed the same session call buyers were paying up in Core Scientific: the miners split the tape this week.
Strategy Corner
The first multi-leg strategy alerts hit the feed on Friday, and the standout was a $10.3M $SNDK call spread: bought the Jan $1800s, sold the Jan $2300s for a $1.9M net debit. It is a bullish bet paying up to 4.2x its cost if SanDisk climbs 60% to $2300 by January 15, with risk limited to what was paid, and it holds through the August 5 earnings report.
Runner-up, posted the same day: a $10.3M $MU call spread (bought the Jan $810s, sold the Jan $910s for a $920K net debit) that needs Micron up 9% by January 15 to break even, with the payout capped at the $910 strike.
By the Numbers
| Metric | This week |
|---|---|
| Alerts posted | 15 |
| Total premium flagged | $9.3M |
| Bullish vs bearish | 9 / 6 |
| Largest single print | $1.8M CORZ calls |
| Most-flagged ticker | AXTI (3 alerts, all ahead of earnings) |
| Multi-leg strategies flagged | 2, both $10.3M spreads |
How Last Week's Flags Resolved
We score every flag and delete nothing. Number two in this cohort is the same Core Scientific position featured above: it made the board within days of being flagged. From the Jul 17-23 cohort:
5 of 15 flags closed green the next session. Keep in mind that next-session scoring is the strictest possible window: many of the positions we flag are longer-dated, like the January SanDisk spread above, and are built to play out over weeks or months rather than pay off overnight. Institutions accumulating ahead of a catalyst rarely need the very next candle to go their way. Flow shows you where they are positioned; it is not a guarantee of direction, and we publish the full scoreboard either way.
The Week Ahead
The heart of earnings season: Boeing, Corning, and Bloom Energy (Tue), Microsoft and Meta (Wed), and Apple and Amazon (Thu), with 812 more names on the calendar, including AXT on Thursday, the name our feed flagged three times this week. When flow starts printing against these events, it hits the live feed first, and you can track dealer positioning into the prints with gamma exposure.
