10 Hot Stocks to Watch — Thursday, October 1, 2026

Moderna tumbled 5.35% today after Citigroup downgraded the biotech to Sell from Neutral, arguing a 703% rally has inflated valuations beyond what its cancer pipeline can justify. Citi warns the stock could fall 60% from current levels, citing insufficient clinical data around its cancer vaccine to support an $80 billion market cap. Options traders are bracing for further downside, with put volume swamping calls—particularly at the $170–$180 strike through October 2026—signaling hedges ahead of potential earnings volatility.

NIO shares plunged 5.3% to $3.40 after agreeing to sell a 30% stake in its flagship NIO Power battery-swapping unit to a Geely subsidiary for roughly RMB16 billion. The deal, aimed at expanding infrastructure reach across Chinese EV brands, triggered equity dilution concerns that outweighed strategic partnership benefits and recent strong delivery metrics. Yet options markets are flashing contrarian signals: call-to-put ratio sits at 6.10 with heavy buying in $3.50 calls across October expirations—suggesting traders see oversold conditions ahead of Q3 earnings and potential upside to $3.50 within two weeks.

Rivian shares tumbled 4.4% to $14.79 today, extending a six-month underperformance versus the S&P 500, yet options traders are aggressively positioning for a near-term bounce. Call volume at the $16, $15.50, and $15 strikes has surged ahead of next Wednesday's expiry, with a bullish 2.96 call-to-put ratio signaling conviction above current levels. The company's late-year autonomy rollout and R2 production ramp remain on track, underpinning Street optimism—one analyst flagged a $19 price target—even as free cash burn and valuation concerns linger.

Lucid shares rallied 4.36% to $4.07 today following the Air UX 3.0 software rollout and a co-design agreement with mobility platform Bolt for European robotaxi services. The moves signal execution progress, though the stock remains down 64% YTD amid persistent cash burn concerns. Options traders are hedging downside aggressively—put volume dominates with $5 and $4 strikes drawing heavy interest through mid-October, suggesting skepticism about a sustained recovery above $4.50.

Intel jumped 3.71% to $120.23 amid heavy call buying, with a 3.90 call-to-put ratio signaling aggressive bullish positioning. Options markets are pricing in upside toward $125–$130 strikes on 2026 October expiries, reflecting confidence in AI data center momentum. The setup mirrors sector enthusiasm around chip capex from self-regulated AI CapEx, though TSMC's margin superiority and valuation spreads across peers remain headwinds to watch through year-end.

Rocket Lab fell 3.45% today even after landing its largest commercial contract—a 20-launch deal with Synspective that pushes backlog past 100 missions—suggesting profit-taking after recent rallies. Options traders are heavily net long, with call volume 11.7x puts and nearly 24,000 contracts clustering around $75–$80 strikes expiring next week. The $75 call (Oct 2) drew 9,417 contracts, signaling conviction above current levels despite SpaceX Starship competition pressures. Watch $72–$75 support; a hold there could trigger the bullish call ladder toward $80.

Robinhood dropped 3.2% today despite unveiling ambitious 24/7 trading and AI agent features at its Houston summit—a strategic bet Morgan Stanley supports. Heavy call buying signals conviction: a 9.92 call/put ratio with 25,712 contracts flowing into the $120 strike (Oct 2) suggests traders expect a snap-back toward $115–$120 within days. Watch Wednesday's close; CFTC prediction-market rules could complicate the expansion roadmap Tenev outlined.

SLB retreated 3.15% today despite securing a major ExxonMobil deepwater contract in Mozambique, signaling profit-taking ahead of Q3 earnings. Options flow remains decidedly bullish, with call-to-put ratio at 22.42 and heavy accumulation in $50 and $51 strikes through October 2026, suggesting institutional conviction in a near-term rebound. The stock trades within its 52-week range but remains up 82% over five years; watch the $50 level as support and the $57 call open interest as a breakout target.

ServiceNow climbed 3.13% to $134.01 on renewed conviction around its enterprise AI positioning, buoyed by Jensen Huang's recent endorsement as the "best platform" for corporate AI deployment. Options flow turned decidedly bullish with a 1.99 call-to-put ratio, driven by heavy accumulation in $150 calls expiring October 9 and $135 calls expiring October 2. Traders are pricing upside conviction above current levels, though the $125 put barrier (October 16 expiry) suggests some hedging for a potential pullback into support.

Adobe gained 2.9% to $239.94 on the heels of a strategic partnership with the NHL to deliver AI-powered fan experiences to 200 million followers globally. The move signals management confidence in monetizing its generative-AI capabilities after months of investor skepticism—the stock trades 58% below December highs despite record revenues. Options markets are decisively bullish, with call volume 2.05x put volume; heavy buying in $250 and $257.50 calls expiring through October 2026 suggests traders see a breakout past the $250 resistance zone.