Popular Cloud Stock Pick for 2026 Option Bears

Cloud name Oracle Corp (NYSE:ORCL) broke through its December low and 2024 highs, while also failing at its one-year volume point of control (VPOC). With the shares closing below put support at the 180-strike, the equity could be in a delta hedge meltdown, with lower strikes set to act as magnets -- specifically the 160 and 152.5 strikes.

 
It's also worth noting that ORCL has a front-month gamma-weighted Schaeffer's open interest ratio (SOIR) of 1.15. The security also sports a Schaeffer's Volatility Scorecard (SVS) of 99 out of 100, indicating it has tended to exceed option traders' volatility expectations during the past 12 months.
 
Our recommended March put has a leverage ratio of 4.9 and will double on a 17.5% drop in the underlying equity.