Ten to one. That's the bull/bear ratio on FOMC Day 1 — the most lopsided bullish session AhamFlow has tracked across 11 issues.

The S&P 500 extended its rally, closing up 0.25% at 6,716.09. The Nasdaq gained 0.47% to 22,479.53. The Dow added 47 points (+0.10%) to 46,993.26. The gains were modest on the surface, but beneath the tape, options flow was screaming conviction. Brent crude climbed 3% back above $100, and the 10-year yield edged up to 4.24%, yet the bulls pressed harder than any session we've measured.

Oil's renewed climb didn't dent sentiment — if anything, it sharpened it. Investors seem to be pricing in a Fed hold tomorrow (widely expected) and positioning for the post-FOMC environment. NVIDIA's GTC conference continued its second day. Delta and American Airlines issued strong revenue guidance, pushing consumer discretionary up 1%. After the bell, Lululemon beat on EPS ($5.01 vs. $4.78 est.) and revenue ($3.64B vs. $3.58B est.) but fell in after-hours on weak forward guidance.

Total flow scanned: 250 signals | Bullish: $45.11M (206) | Bearish: $4.49M (44) | Net: BULLISH by $40.62M

The 10:1 bull/bear ratio obliterates every prior session. For context: Thursday's panic was 4:1 bearish. Friday flipped to 2:1 bullish. Monday was 2.6:1 bullish. Tuesday: 10:1. The accumulation isn't just continuing — it's accelerating with each session.

Broadcom dominated the day with $8.71M in all-bullish flow and zero bearish. The anchor: $400C June 2027 LEAPS — $7.57M across 22 fills at IV 50.2%. Broadcom trades around $340, making this a ~18% upside bet over 15 months. Add $380C April ($0.45M, 2,133 contracts, V/OI 7.7x), $350C September ($0.34M), and $350C/$340C/$330C shorter-dated calls. Every fill, every strike, every expiry — all calls. This is the most concentrated single-name bullish session we've tracked since AMZN's $26M opening bell bet yesterday.

The MU trail has become legendary. Day 5: $6.37M bullish versus $1.39M bearish across 46 fills — the highest fill count for any single ticker in any session since launch. The lead: $490C April ($1.92M, 10 fills, V/OI 1.0x) — the $490 strike is approximately 10% above today's close near $445, so someone is betting on a 10%+ post-earnings move. Plus $700C June 2027 LEAPS ($1.17M, 5 fills, V/OI 4.9x) — a $700 target is a 55% upside bet. $500C January 2027 ($0.86M, 6 fills), $300C June ($0.70M, deep ITM synthetic). The hedges: $460P/$500P April ($1.34M combined) — meaningful protection, but dwarfed by the bullish side.

Dark pool: 35 prints, $8.58M at avg $464.47. New all-time high for MU dark pool premium. Fourth consecutive session of flow + dark pool convergence.

5-day trail total: ~$18M+ bullish flow. Dark pool: 4 straight days, escalating each session. MU reports tomorrow (Wednesday) after close.

Amgen saw two enormous single fills: $295C May ($4.21M, 600 contracts, V/OI infinite — new strike opening) and $295C April ($3.15M, 462 contracts). Zero bearish flow. Both strikes are near-the-money with Amgen trading around $295. This is a high-conviction bet that Amgen holds or rallies from current levels over the next 1-2 months — likely a post-earnings positioning or pipeline catalyst play.

Tesla's accumulation trail continues for a fourth session. $2.97M bullish versus $0.53M bearish. The standout: $260C December 2028 ($2.01M, 1 fill) — a nearly 3-year LEAPS bet on a stock at $395. That's a 35% downside strike, meaning this is a deep ITM play with massive delta. Plus $410C March 27 ($0.22M, weekly), $350C December 2027 ($0.20M). The bearish side: $320P September ($0.18M) — minimal hedging.

Apple saw $2.67M in $225C April 10 calls — 870 contracts across 3 fills, V/OI 27.8x. Apple trades around $250, making this deep ITM with high delta. Plus $255C August ($0.08M) and $120C June 2027 ($0.08M). Nearly all directional bullish.

AppLovin saw $1.44M in $490C April across 7 fills, V/OI 2.8x. All bullish, zero bearish. The AI-powered advertising platform is benefiting from the broader GTC/AI sentiment wave.

The SanDisk accumulation continues for a third consecutive session. Today: $750C March 27 ($0.85M, 2 fills), $800C April ($0.54M). Three-day total: ~$10.5M bullish. The patient LEAPS buying hasn't stopped.

NVDA flow tilted 9:1 bullish: $1.20M calls versus $0.13M puts across 9 fills. The lead: $115C December 2028 LEAPS ($0.75M, 3 fills) — deep ITM with massive delta. Plus $200C June 2027 ($0.23M). GTC Day 2 is driving quiet accumulation rather than headline bets.

Date: March 17, 2026 | 250 prints scanned (191 stocks after ETF exclusion)

MU leads dark pool for the first time — 35 prints, $8.58M, the highest premium for any single ticker since the $61M CRM block yesterday. MU is now leading both options flow AND dark pool simultaneously on the eve of earnings.

SNDK continues — 19 prints, $4.67M at avg $727.94. Third consecutive session in the top 3 dark pool names, perfectly matching the options LEAPS accumulation.

NVDA — 33 prints, $8.04M. Consistent institutional buying through GTC.

RKLB — Rocket Lab appears with 7 prints ($1.08M), a space/defense name gaining institutional interest. IBIT — Bitcoin ETF continues drawing dark pool flow ($1.64M, 7 prints) as BTC holds above $74K.

Date: March 17, 2026 | 150 rows scanned | 87 multi-day builds (3+ days)

The OI data has shifted dramatically — 87 multi-day builds (up from 67 yesterday), reflecting the broadest positioning wave we've tracked.

SPY put hedging intensifying into FOMC: $660P March 27 (3 days, +58K OI, $44.49M) and $645P March 27 (8 days, +56K OI, $21.86M). That's $66M in premium on near-dated SPY puts — institutional insurance into tomorrow's decision. Someone is buying the rally AND hedging the Fed.

VIX tail risk expanding: $55C June (4 days, +67K OI, $7.04M) and $70C May (+100K OI, $5.31M). The VIX hedge ladder is pushing further out in time and higher in strike — institutions are paying for increasingly unlikely but catastrophic outcomes.

NVDA OI straddle widening: $175P March 27 (4 days, +40K OI, $12.39M) plus $190C March 18 (10 days, +24K OI, $6.57M) and $168P March 27 (6 days, +24K OI). The market is positioned for NVDA to move $15+ in either direction off the remaining GTC announcements.

SMCI call build — 15 days: $32C May (12 days, +44K OI, $16.61M). This is now one of the longest sustained bullish OI builds on any individual stock — over two weeks of accumulation.

ORCL puts still building — now 9 days: $135P March 27 (+24K OI, $2.88M). Post-earnings hedging hasn't stopped.

SOFI multi-layer put build: $16P March 20 (16 days), $16P April (27 days), $13P April (10 days) — three concurrent put OI builds spanning nearly a month. Sustained bearish positioning on the fintech name.

Tomorrow, March 18: FOMC rate decision and Powell presser at 2pm ET. Expected to hold at 3.50%-3.75%. The dot plot and Powell's tone on oil-driven inflation will set the direction. Market pricing: only one 25bps cut this year, likely not before December. The SPY put OI build ($66M) says someone is hedging even as they buy.

Tomorrow AH: MU earnings. Five-day trail. $18M+ bullish. Dark pool every session. This is the moment.

GTC Day 3 continues tomorrow.

Broader theme: The 10:1 bull/bear ratio on FOMC eve is the strongest signal of the entire sell-off recovery. Thursday's panic was 4:1 bearish. Five sessions later, the flow is 10:1 bullish. AVGO $8.71M all-calls, MU $7.76M on 46 fills, AMGN $7.36M all-calls — this isn't retail chasing a bounce. This is institutional capital deploying at scale into LEAPS and near-term catalysts simultaneously. The SPY put hedging into FOMC tells you they're not naive about risk — they're just more convicted on the upside.

AhamFlow is published by Babu Ventures LLC (d/b/a AhamFlow) for informational and educational purposes only. Nothing in this newsletter constitutes financial advice, a recommendation to buy or sell any security, or an offer to transact. Options involve substantial risk and are not suitable for all investors. All data sourced from publicly available options flow, dark pool, and open interest feeds. Past flow activity does not predict future price movements. Always do your own research and consult a licensed financial advisor before making investment decisions.