May. 7 at 3:11 PM
Mag 7 positioning snapshot (options flow skew):
$QQQ calls +
$1.5M over puts — broad beta risk-on still in play
$NVDA +
$34M call skew — AI remains the main liquidity magnet
$TSLA +
$13M — momentum crowd still leaning continuation
$AAPL +
$6M — strength confirmed after ATH print
$GOOGL -
$3M puts lead — hedging into ad + AI uncertainty
META +
$8M — steady support under ad + AI narrative
AMZN -
$4M puts lead — caution on margins / cloud sensitivity
MSFT +
$15M — institutional call positioning still heavy
Still a risk-on tape at the index level, but underneath it’s no longer uniform. Leadership is intact, but hedging is rising where conviction fades. This is a selective market, not a blind beta chase.
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