Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) stock is down 8.7% to trade at $86.06 this morning, the defense contractor brushing off an adjusted fourth-quarter earnings of 18 cents per share on $345.10 million in revenue, both of which topped analyst estimates.

Its first-quarter revenue forecast that fell short of expectations is what's weighing, with the recent government shutdown a culprit. Despite the movement today, BTIG and J.P. Morgan Securities hiked their price targets to $115 and $99, respectively.

KTOS hit a nearly 22-year high of $134 on Jan. 20, but has taken a 33.8% haircut off that peak. The shares' 126-day moving average is stepping up today, a trendline that's only been breached a handful of times on a closing basis in the last 12 months. Kratos stock remains up 261% year-over-year.

Options traders are unfazed. At last check, over 4,905 calls have changed hands, volume that's double the average daily amount and nearly twice the number of puts traded. The March 145 call is seeing notable sell-to-open activity, while the weekly 2/27 94-strike call is also getting attention.

It's also worth noting that the stock tends to outperform options traders' volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) of 88 out of 100.

The race to the top of the AI sector continues, with Advanced Micro Devices Inc (NASDAQ:AMD) unveiling an expanded partnership with Meta Platforms (META). The multi-year deal will include AI expansion via the deployment of as many as 6 gigawatts of graphic processing units (GPUs) for data centers, as well as early shipments of its MI450 GPU.

This marks another major partnership milestone for the chipmaker, which also penned a deal with OpenAI back in October. AMD was last seen 7.5% higher to trade at $212.21, on track for its best day since Jan. 21. The chip stock is a long-term outperformer on the charts, up 95% over the past 12 months, and is attempting to push break out of recent consolidation around the $200 level.

Analysts have yet to chime in on the update, but heading into today the majority already leaned bullish. In fact, 33 of the 46 firms in coverage called the stock a "buy" or "strong buy," and its average 12-month price target of $277.62 is a 32.1% premium to current levels.

Options traders are swarming AMD in response to today's news, with 193,000 calls and 137,000 puts exchanged so far, or double the average intraday volume. The weekly 2/27 210- and 220-strike calls are flying off the shelves, with new positions opening at both.

Options are looking affordable, too. This is per the equity's Schaeffer's Volatility Index (SVI) of 59%, which ranks in the 33rd percentile of its annual range, meaning options traders are pricing in low volatility expectations. The stock has tended to exceed those expectations over the past year, too, per its Schaeffer's Volatility Scorecard (SVS) of 94 out of 100.  

Strategy Inc (NASDAQ:MSTR) stock was last seen trading down 4.2% at $125.53, falling with the broader crypto sector as investors unpack President Donald Trump's latest global tariff threat of 15%. Earlier today Bitcoin (BTC) fell to a bottom of $64,830. The sector has struggled in 2026, but that certainty hasn't kept options traders away.

MSTR has once again landed on Senior Quantitative Analyst Rocky White's list of stocks seeing the most options volume in the past 10 days. In this timeframe, the crypto stock has seen 4.6 million calls and 2.7 million puts traded, with the February 135 call and weekly 2/13 135-strike call seeing the most attention.

MSTR has struggled alongside BTC since the start of the year, off 18.3% in this time, tapping an annual low of $104.16 on Feb. 5. Overhead pressure from the descending 20-day moving average is also adding weight to the equity's long-term decline.

Strategy stock's Schaeffer's Volatility Index (SVI) of 78% ranks in the low 13th percentile of its annual range, meaning options traders are pricing in low volatility expectations. The stock has tended to exceed those expectations over the past year, too, per its Schaeffer's Volatility Scorecard (SVS) of 71 out of 100.  

The security hit a Jan. 16, record high of $99.58 before pulling back and finding support at the $64 level. While today's move has shares on track for a second-straight loss, they are still up more than 380% from April lows. 

RKLB has tended to outperform traders' volatility expectations during the past year, per its elevated Schaeffer's Volatility Scorecard (SVS) of 84 out of 100.

Shares of Domino's Pizza Inc (NASDAQ:DPZ) are higher today, last seen up 6.7% at $410.28, brushing off an earnings miss after the restaurant chain posted strong same-store sales growth and new restaurant openings. The pizza chain also reported fourth-quarter revenue of $1.54 billion -- 6.4% higher compared to a year ago -- which surpassed the $1.52 consensus.

Today's boost is long overdue, considering DPZ fell to its lowest level since November 2023 on Tuesday, Feb. 17. Should today's gains hold, DPZ will mark its third win in the past four sessions. Over the past nine-months, however, shares have shed 17%. 

What's more, Domino's sports a 14-day Relative Strength Index (RSI) of 25.5, deep within "oversold" territory. In simpler terms, this suggests a short-term bounce may have already been in the cards.

DPZ's Schaeffer's put/call open interest ratio (SOIR) of 2.08 sits in the 76th percentile of its annual range, suggesting short-term option players have been more put-heavy during the past 12 months.

So far, over 870 calls and 770 puts have changed hands, which is six times the average intraday amount. Seeing the most attention are the March 380 put and 390 call, with new positions being opened at the latter.