10 Hot Stocks to Watch — Friday, July 24, 2026

Tesla shares cratered 14.52% today amid a broad retreat from megacap AI darlings, with Brent crude breaching $100 fueling macro anxiety. The options market shows defensive positioning: $320 puts (ITM) logged 139,911 contracts with zero open interest, signaling heavy roll activity into expiration tomorrow, while call volume trails at the $325–$330 strikes. The 0.75 call-to-put ratio confirms bears are in command. Watch the $310 support level through Friday's close.

Raytheon Technologies jumped 7.3% after delivering better-than-expected Q2 results and lifting 2026 guidance, buoyed by 14% revenue growth and a record $289B backlog. The aerospace-defense titan's outperformance bucked a broader market selloff, with industrial stocks finding safe harbor as energy prices climbed. Options traders are piling into call spreads at $210–$215 strikes expiring late July, signaling conviction above current levels. Watch the $214.50 52-week high as the key resistance test.

Alphabet shares tumbled 7.13% today amid a broad selloff in AI-exposed megacaps, despite YouTube hitting a record $11.06B in quarterly ad sales. Geopolitical risk—Brent crude topping $100 on Middle East tensions—triggered the broader tech rout, with analysts noting the AI capex arms race remains only 15% complete. Options markets are flashing contrarian strength: heavy call buying (2.58 C/P ratio) has positioned traders for a rebound toward $320–$330 by late July, suggesting conviction that today's dip is a buying opportunity.

Oracle tumbled 4.61% to $120.04 today, bucking an after-hours rally sparked by a $6.99 billion Department of Defense software contract announced Thursday. The intraday selloff reflects broader tech weakness overshadowing the multi-year win. Options flow shows balanced positioning: put volume at $120 and $118 strikes (expiring July 24–31) rivals call interest, signaling trader caution around current levels. Watch $118 support; a break below could invite further capitulation, though Mizuho's $320 price target and retail enthusiasm on Stocktwits suggest conviction in the Pentagon deal's long-term value.

Amazon fell 4.6% today despite zero company news, dragged down by rivals' AI spending announcements and lingering Senate probes into marketplace practices. The slump triggered heavy call buying—a 3.43 call/put ratio with 96k+ contracts across $235–$245 strikes expiring July 24, 2026—signaling options traders are positioning for a bounce. Watch the $235 support level; a hold above it could confirm institutional accumulation ahead of July 30 earnings.

VXX climbed 4.5% to $22.52 today as volatility hedging accelerated amid Middle East tensions and Fed rate expectations. Options flow flashed decidedly bullish signals, with a 15.47 call-to-put ratio and over 21,500 contracts trading in the $23 call expiring July 24, 2026—well above zero open interest. The concentration of near-the-money and out-of-the-money call buying suggests traders are positioning for further upside as geopolitical risks persist and Fed policy remains in focus.

Salesforce fell sharply today, underperforming the broader market as Oracle's $7B Pentagon AI contract sparked a rotation toward defense-adjacent software plays. The options market remains bifurcated: heavy call volume clusters at $160–$170 strikes expiring tomorrow, signaling speculative upside bets, while put demand at $155 suggests traders are hedging downside risk. Watch the $157.50 technical level—a break below could accelerate selling into the Friday expiry.

ServiceNow shares fell 3.69% today despite beating Q2 expectations and raising full-year guidance, a divergence that underscores profit-taking after the stock's recent recovery. The options market, however, is painting a bullish picture: call-to-put ratio sits at 3.59, with heavy positioning in $95–$110 calls expiring July 2026, suggesting traders are betting on a recovery toward $100+. Analyst upgrades from Cantor Fitzgerald and JPMorgan, combined with Oracle's $7B Pentagon AI deal spurring sector enthusiasm, provide technical tailwinds. Watch the $95 support level closely; a hold signals consolidation before a potential retest of the $105–$110 zone.

Meta dropped 3.36% today alongside broader tech selloff, with the Magnificent Seven erasing $797 billion in a single session—the worst day since April's tariff rout. Rising borrowing costs on a $12 billion data centre financing deal signal bond markets are pricing in sustained AI spending pressures, mirroring Alphabet's stock collapse after raising 2026 capex forecasts to $200 billion. However, options traders are betting on a bounce: bullish call flow dominates with a 3.34 call-to-put ratio, with 52,000+ contracts stacked at $610–$612.50 strikes ahead of tomorrow's expiry, suggesting conviction near the $606 level.

Caterpillar surged 3.29% to $892.72 on Thursday, riding a broad industrial sector recovery that lifted machinery stocks despite broader market weakness. However, options traders are pricing substantial downside risk: put volume has overwhelmed calls with a 0.22 call-to-put ratio, with heavy concentration in $515–$545 strikes expiring July 31—roughly 40% below spot. The divergence between equity momentum and bearish derivatives positioning reflects analyst concerns about valuation uncertainty in the industrial giant's forward guidance.