Oracle (ORCL) Options Signal Bullish Bias: Key Strike Levels and Trade Setups for the Week of April 12

• Oracle’s price dropped 2.17% to $274.73, breaking below its 30-day moving average of $292.66.
• Options market shows 0.875 put/call open interest ratio, with heavy call OI at $300 and put OI at $270.
• RSI at 46.25 and MACD divergence hint at potential short-term rebound after oversold conditions.

Here’s the core insight: Oracle’s options market is quietly bullish, with heavy call open interest at $300 strikes and a put/call imbalance favoring calls. While the stock faces near-term support at $280, technicals and options positioning suggest a rebound could materialize—especially if buyers step in above $275. Let’s break down what this means for traders.

Unpacking the Options Imbalance: Where Institutional Money is Flowing

The options data tells a story of cautious optimism. For Friday’s expirations, the $300 call (OI: 18,368) is the most watched strike, followed by $290 and $310 calls. This suggests some players are betting on a rebound to pre-earnings levels. On the put side, the $270 strike (OI: 7,984) is the most heavily positioned, acting like an insurance policy against a breakdown below $275.

The 0.875 put/call ratio (calls > puts) reinforces this narrative. But here’s the catch: if the stock fails to hold above $270, the heavy put OI at that level could accelerate selling. Think of it like a seesaw—calls are betting on a bounce, but puts are bracing for a drop.

Block trading is quiet this week, so we’re looking at retail and institutional options activity as the main drivers. The lack of large block trades means no obvious whale moves to skew the data—this is pure market sentiment.

Silent News, Noisy Markets: How Oracle’s Quiet Week Shapes Strategy

There’s no major news to anchor this move. Oracle’s quiet week means the options action isn’t reacting to earnings, product launches, or lawsuits. Instead, this is a technical play—traders are positioning for a potential rebound off oversold RSI levels (46.25) and a test of the $280 support zone.

But here’s the twist: without fundamental catalysts, the move could be short-lived. If the stock can’t break back above its 30-day MA ($292.66), the long-term bullish setup (200D MA at $204.42) might struggle to gain traction. This is where patience becomes key—Oracle’s story isn’t about today’s dip, but whether it can reassert dominance in cloud infrastructure.

Actionable Trade Setups: Calls, Puts, and Precision Entries

For options traders, the most compelling plays are:

• Bullish: Buy the $300 call (Friday expiration) if Oracle closes above $285 by Thursday. The strike is heavily backed by open interest and could act as a self-fulfilling prophecy if the stock approaches it.
• Bearish: Buy the $270 put (Friday expiration) as downside insurance. With 7,984 contracts outstanding, this strike could become a liquidity magnet if the stock gaps lower.

For stock traders, consider these levels:

• Entry: Buy Oracle near $275–$277 if it holds above the lower Bollinger Band ($267.64). A close above $280 would validate the support zone.
• Target: Aim for a rebound to $290–$295, testing the 30-day MA. A break above $295 would signal stronger conviction.
• Stop: Exit or hedge if the stock falls below $270, triggering the heavy put OI zone.

Volatility on the Horizon: What to Watch for Next Week

The key test will be Friday’s expiration. If Oracle closes above $285, the $300 calls could ignite a short-term rally. Conversely, a close below $270 would validate the put-heavy positioning and force a reevaluation of the bullish thesis.

Longer-term, Oracle’s 200D MA ($204.42) remains a floor, but the 30D MA ($292.66) is the immediate ceiling. A sustained move above $295 would align with the long-term bullish trend, while a breakdown below $270 could extend the correction into next week.

In the end, Oracle’s story is a classic case of short-term pain, long-term gain. The options market is pricing in a rebound, but execution will determine whether this becomes a setup or a trap. Stay close to those key levels—and be ready to pivot if the stock decides to test the $270 puts in earnest.