Dell shares surge after repeated presidential endorsements, but options data reveals persistent trader skepticism despite AI-driven growth.
Dell (DELL) stock has climbed over 220% this year following three endorsements from President Donald Trump, including a July 6 call that briefly boosted shares by 10%. The rally coincides with Trump’s disclosed holdings of $1 million to $5.1 million in Dell shares, purchased days before his first endorsement in February.
Despite the gains, Dell’s AI server business surged 757% year-over-year, driving a 32% post-earnings jump. However, options market data signals caution: the put-call ratio remained above 1 on July 2 and July 6, indicating more bets on a decline than a rise. Open interest readings of 1.11 and 1.12 reflect sustained bearish sentiment even after Trump’s latest push.