10 Hot Stocks to Watch — Wednesday, September 30, 2026

Riot Platforms tumbled 6% today, extending weekly losses despite Wall Street raising price targets on Bitcoin strength above $84K. The miner's strategic pivot is narrowing its reliance on mining revenue—which dropped to 65% of segment sales by Q2 2026 from 92% a year prior—as it diversifies into AI infrastructure. Options markets flash bullish conviction: call-to-put ratio of 1.78 with heavy $23–$23.50 call volume expiring early October signals traders betting on a rebound toward $23.50 within two weeks.

NIO shares tumbled 5.29% to $3.40 after announcing Geely's 30% stake purchase in its battery-swap unit, a move that monetizes the company's most distinctive competitive asset ahead of Q3 earnings. Despite the equity selloff, options traders are aggressively buying calls—the call-to-put ratio stands at 4.61 with heavy volume in $3.50 and $4.00 strikes expiring in early October. The disconnect suggests informed traders see near-term upside if the market reassesses the strategic benefits of the Geely partnership, particularly as battery-swapping adoption gains traction in China's EV market.

Applied Materials jumped 5.2% to $512 as semiconductor-equipment demand accelerates on AI-driven memory buildouts, with the KIOXIA partnership underscoring next-gen chip intensity. Options flow turned decidedly bullish: call-to-put ratio of 2.59 reflects heavy buying in October 2026 calls, particularly the $530 strike (2,553 contracts), signaling conviction above current levels. Watch the $530 resistance through year-end as institutional positioning suggests sustained upside into 2027 earnings visibility.

Rivian shares fell 4.4% to $14.79 today, pressured by a 98,828-vehicle recall and executive departures that underscore operational friction as the EV maker scales. Yet options traders are betting on a rebound: call volume surged 8.15x put flow, with heavy positioning in $15–$16 strikes expiring next week, suggesting conviction in a near-term bounce. Management's late-2026 autonomy rollout and R2 production ramp remain the pivotal catalysts; the $15 call breakeven sits just 1.4% above current levels.

Oracle jumped 3.91% after launching Fusion Claw AI tools and compliance features for financial institutions, extending a rally fueled by surging cloud-AI demand. Options markets are pricing aggressive upside: a 10.27 call-to-put ratio and nearly 165,000 contracts across $150–$155 strikes expiring in the next two weeks signal conviction above current levels. Watch $155 as the near-term resistance; breach would target $160 by mid-October, though the 1.785 beta suggests volatility risk in a tech correction.

Arm Holdings jumped 3.65% to $293.67 as investors rewarded exposure to Nvidia's dual-layer safety architecture for AI agents, triggering a broad chip-sector rebound. Options markets are firmly bullish, with a 2.14 call-to-put ratio and heavy concentration in $320 calls expiring October 2—suggesting traders are pricing in near-term momentum above the current level. Valuation concerns linger after the stock's 442% three-year run, but sector rotation into safety-critical AI infrastructure is providing near-term lift. Watch $320 resistance and October expiries for conviction signals.

ASML rallied 3.56% to $1,834.39 as semiconductor equipment stocks bounced on renewed AI spending optimism, with Anthropic's IPO prospectus signaling fresh cloud infrastructure demand. The options market is pricing aggressive upside conviction: call-to-put ratio sits at 4.20, with 2,203 contracts piled into the $1,900 October 2 calls—a 3.6% breakout above current levels. Bears have erected a modest floor near $1,650, but momentum favors fresh highs if order-to-revenue conversion accelerates into Q3 2026 earnings season.

Meta shares climbed 3.24% to $738.79 today, rebounding from Goldman Sachs' warning that AI spending needs $300 billion annual revenue to justify valuations. Options flow turned decidedly bullish, with call-to-put ratio of 3.52 and 43,882 contracts trading the $750 call expiring tomorrow—a clear bet on upside momentum. Traders are stacking into near-the-money calls across the $730–$750 band, suggesting conviction the stock can punch through resistance ahead of quarterly close.

Schlumberger fell 3.15% today, underperforming the broader market despite securing major subsea contracts with ExxonMobil in Mozambique and expanding its Saudi Aramco footprint across 450-plus wells. The weakness contradicts bullish options positioning: call-to-put ratio sits at 3.75, with heavy concentration in $55 calls expiring October 16—about 10% above current levels—signaling investor conviction in a near-term rebound. Watch the $50 technical floor and Q3 earnings call on October 23 for catalysts.

Moderna surged 3.13% to $203.46, approaching its 52-week high, as personalized cancer vaccine momentum drives investor optimism. The options market is echoing confidence—call-to-put ratio stands at 3.15, with heavy concentration in October 2026 calls at $205–$220 strikes, signaling traders expect sustained upside momentum. Analysts flag 2027 data catalysts, though commercial risks around manufacturing costs and reimbursement remain. Watch the $210 level for breakout confirmation.