10 Hot Stocks to Watch — Thursday, July 2, 2026

Riot Platforms (RIOT) cratered 12.49% to $23.96 today, extending losses as the bitcoin miner continues liquidating its crypto holdings to fund a strategic shift into AI data centers. The selloff contradicts bullish options positioning, where call-to-put ratio of 2.91 reflects heavy $25–$28 call buying through July expiries, suggesting institutional conviction in a recovery toward $28. The tension between near-term technical weakness and forward-looking options demand points to $24 as a critical support floor; a hold there could trigger a relief rally toward the $28 July calls now accumulating volume.

Micron Technology tumbled 10.57% to $1,032.28 today after Meta's announcement of in-house AI infrastructure sparked a sector-wide selloff in memory and chip stocks. The memory chipmaker, already vulnerable to cyclical pressures, saw no fundamental catalyst for the decline beyond repositioning fears tied to shifting cloud compute strategies. Put options dominate the flow with heavy activity in $600 and $950 strikes through July 2026, signaling hedging demand; the 0.88 call-put ratio underscores defensive positioning. Watch the $950 support level as a critical technical pivot.

Applied Materials tumbled nearly 10% today as semiconductor stocks unwound record first-half gains, with the selloff amplified by Michael Burry's disclosed short positions in the chip-equipment maker and broader semiconductor ETF. The options market is flashing deep pessimism: a 0.35 call-to-put ratio and heavy volume in far out-of-the-money puts—including 3,327 contracts at the $155 strike (July 17)—suggest traders are hedging downside below $650. Watch $620 as near-term support; a break below $600 would test major technicals.

Lam Research plunged 9.71% today to $391.26, a sharp reversal despite analyst praise for chip equipment spending driven by AI demand. Options markets show heavy bullish conviction—call-to-put ratio of 2.25 with 1,993 July $460 calls trading, suggesting traders are betting the selloff is a buying opportunity ahead of earnings. The stock has already gained 154% in H1'26, and analysts warn valuations at 6.3x five-year returns may have priced in AI upside; watch the $400 support level through early July expiration.

Coinbase jumped 8.93% to $159.24 as the crypto industry's aggressive midterm election spending and regulatory push buoyed sentiment across digital-asset stocks. Options markets are decidedly bullish, with call-to-put ratio at 3.98 and over 24,000 contracts traded across $160–$175 July strikes, suggesting traders are positioning for further upside. Watch $165 resistance; heavy volume concentration there signals conviction for a breakout toward $175 by early July.

Meta rallied 8.81% today as investors cheered reports of a nascent cloud computing business, a move that threatens specialized players like CoreWeave and Nebius. Options markets are flashing heavy conviction: call-to-put ratio sits at 4.04, with 31,936 contracts trading the $650 strike expiring July 10—well above zero open interest, signaling fresh bullish positioning ahead of potential announcements. Watch $650 as the immediate resistance; a close above that level could trigger acceleration toward the 52-week high of $796.

Robinhood jumped to near six-month highs after announcing a major international push: perpetual futures for commodities, ETFs, and FX across Europe, plus planned cryptocurrency trading in the UK. The brokerage is also rolling out its AI-native layer-2 network and Crypto Earn via Morpho, signaling aggressive fintech-meets-DeFi positioning. Options traders are piling into calls with a 12.09 call-to-put ratio; July and mid-July $110 calls are drawing heavy volume, suggesting conviction for a break past current resistance.

Caterpillar plummeted 6.9% today after renowned short-seller Michael Burry unveiled a high-profile bearish position, reversing his longtime bull stance and citing extreme valuation despite record fundamentals. The stock has rallied hard on AI and infrastructure tailwinds, but Burry's skepticism coincides with heavy put buying in the options pit—the call-to-put ratio sits at a lean 0.30, with notable put clusters at $740, $930, and $1,000 strikes extending into mid-2026. Watch the $930 support level and mid-July expiration dates for conviction signals.

Nike jumped nearly 5% today, extending weekly gains as investors reassess the athletic apparel maker's restructuring efforts despite lingering challenges. Options markets are flashing conviction: call-to-put ratio of 1.69 and heavy buying in $43–$45 calls expiring tomorrow signal traders betting on continued upside momentum. Wall Street remains divided on valuation, with earnings multiples appearing attractive against cash flow concerns. Watch the $45 strike—a decisive close above that level would confirm the near-term reversal narrative.

Walmart fell sharply today as Cleveland Research flagged softening U.S. comparable sales and aggressive pricing tactics that threaten near-term margins. The retail giant has leaned on discounts and tariff refunds to manage inventory, sparking fresh doubts about forward guidance. Options traders are heavily long puts, with $110 and $125 strikes showing outsized volume ahead of mid-July expiries, signaling hedging demand below current support. Watch the $105–$107 floor for technical breakdown risk.