Top Stocks Today: Semiconductor Hedging, Space and Quantum Stocks Lead | July 31, 2026

July 31, 2026 SmartFlow Analysis

Semiconductors, Memory and Optical Hardware See Profit-Taking

Semiconductors, memory and optical hardware are being targeted by profit-taking and some hedging after yesterday’s short squeeze.

SOXX has a large bought put only 5.85% out of the money with eight days remaining, while SKHY, TER, KLAC, WDC and STX showed repeated or near-term downside positioning.

LITE showed a near-the-money call sale alongside a put purchase, potentially a collar. MU also reversed sharply negative for the day, but its seven-day positioning remains strongly bullish.

Note that after rallies like yesterday’s, puts become much cheaper because the underlying has moved sharply higher. It often makes sense to use them to hedge some of the profits if you caught the rally, as we did.

INTC remains the strongest repeated bullish chip name. TSM, AMAT, ASX and AAOI were also positive.

Space and Quantum Stocks Show Clean Bullish Flow

Space and quantum are very clean today.

FLY attracted three bought calls, including a large near-the-money February 2027 call. SPCX remained directionally concentrated once again.

RGTI, IONQ and QUBT added bought calls, while the activity in RKLB and RDW supports the broader theme.

Megacaps and Software

META’s bought-call premium dominated, including a near-the-money February 2027 call.

MSFT had a clean bought call, but the September 2027 expiration makes it more of a strategic bet rather than urgent upside speculation.

AMZN was only modestly positive and remained almost neutral.

DDOG, TEAM and CRWD added smaller bought-call flows. SNOW was bullish only through two sold puts, including a deep-in-the-money January 2028 contract. This looks more like financing or acquisition-style exposure rather than clean speculation.

AI Infrastructure, Data Centres and Power

AI infrastructure, data centres and power were mixed, likely reflecting profit-taking following yesterday’s rally.

PWR and VRT remained bullish, but entirely through put selling. NBIS had three sold puts and one bought farther-out put.

GEV had a bought put, suggesting protection or monetisation rather than a bearish reversal. BE was neutral.

Korea, Taiwan and Broader Asian Technology

EWY was bullish, but the largest call was 42.7% out of the money and almost a year from expiry, making it more of a convex rebound exposure.

SKHY had the most repeated bearish concentration in the entire dataset, while ACMR attracted a bought put.

This is not unusual following a rally like yesterday’s.

Bullish Stocks Watchlist

FLY – The largest call flow was slightly in the money, but the February 2027 expiration weakens its immediate timing.

TSLA – One bought call expiring August 10, supported by 12 seven-day trades and strongly positive daily, three-day and seven-day scores. The main problem is that the signal rests on one contract.