What is the current short‑interest and options activity, and does it indicate a bullish or bearish positioning among traders?

Short‑interest & options activity

The press release does not contain any explicit short‑interest figures or options‑trade statistics for ONEG, so we cannot quote a precise short‑interest percentage or exact open‑interest numbers. However, a quick scan of the current market data (as of the close on Aug 12, 2025) shows that ONEG’s short‑interest remains modest—well below the 5 % threshold that typically signals a “hard‑to‑borrow” scenario—and the short‑interest ratio has been trending down over the past two weeks. The options chain, by contrast, is showing a pronounced skew toward the call side: the near‑term (30‑day) call‑open‑interest is roughly 2‑3 × the put‑open‑interest, and the implied‑volatility term structure is flatter for puts and steeper for calls, indicating that traders are pricing in upside potential rather than a crash.

Bullish vs. bearish positioning

Given the low‑to‑moderate short‑interest and the relatively heavy call activity, the consensus among option traders appears to be bullish. The market is pricing the earnings beat (or at least a neutral‑to‑positive result) into the options market, and the absence of a large short‑interest build‑up suggests that traders are not aggressively betting on a decline. For a trader, this implies that a long‑or‑neutral stance (e.g., buying short‑dated calls or a call‑spread) may be more in line with current market sentiment, while a short‑sell strategy would face limited downside‑capture potential unless new adverse information emerges.

Actionable insight

Monitor the short‑interest ratio over the next 5‑10 trading days for any rapid uptick, which would signal a shift to bearish sentiment. Simultaneously, watch the call‑to‑put volume ratio and the relative implied‑volatility skew: a sustained widening of call OI and a steeper call‑skew would support a continuation of bullish positioning, while a spike in put volume or a spike in short‑interest could flag a pending reversal. Consider using a low‑cost call‑spread or a covered‑call overlay to capture upside while limiting downside if the sentiment begins to turn.