Oracle stock has been grappling with overvaluation concerns
Oracle Corp (NYSE:ORCL) just spurred another tech selloff, despite the company denying a Financial Times report that Blue Owl Capital's plans to finance its $10 billion Michigan data center fell through. Prior to that, Oracle was in the spotlight following a fiscal second-quarter revenue miss, which dinged other AI and neocloud names amid persistent overvaluation fears.
Amid all this buzz, ORCL landed on Schaeffer's Senior Quantitative Analyst Rocky White's weekly list of stocks that saw the highest options volume in the last 10 days. The security attracted 3,362,916 calls and 2,427,676 puts during this time, with the weekly 12/12 200-strike call standing out as the most popular contract.
It's also worth noting that Oracle stock's checks in at 99 out of 100. This suggests the equity has consistently surpassed options traders' volatility expectations over the last 12 months.
ORCL is up 0.5% at $179.29 at last glance, after yesterday gapping to its lowest level since June. The equity is now a far cry from its Sept. 10, record high of $345.72, and is trading back below overhead pressure at the 20-day moving average after a brief break above the trendline. Over the last three months, shares have shed nearly 40%.
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