Investors with a lot of money to spend have taken a bullish stance on NVIDIA NVDA.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NVDA, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 275 uncommon options trades for NVIDIA.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 41%, bearish.
Out of all of the special options we uncovered, 19 are puts, for a total amount of $914,225, and 256 are calls, for a total amount of $15,362,431.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $160.0 for NVIDIA, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for NVIDIA's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of NVIDIA's whale activity within a strike price range from $70.0 to $160.0 in the last 30 days.
NVIDIA Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVDA | CALL | SWEEP | BULLISH | 11/15/24 | $3.55 | $3.45 | $3.5 | $145.00 | $198.1K | 16.5K | 1.4K |
| NVDA | CALL | SWEEP | BEARISH | 09/27/24 | $2.67 | $2.64 | $2.64 | $125.00 | $131.2K | 104.3K | 31.2K |
| NVDA | CALL | SWEEP | BULLISH | 09/27/24 | $3.5 | $3.45 | $3.45 | $124.00 | $114.1K | 79.7K | 9.5K |
| NVDA | CALL | TRADE | BEARISH | 10/04/24 | $6.05 | $5.95 | $5.99 | $123.00 | $92.8K | 11.9K | 1.7K |
| NVDA | CALL | TRADE | BULLISH | 10/04/24 | $4.6 | $4.5 | $4.57 | $125.00 | $91.4K | 36.6K | 11.7K |
About NVIDIA
Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence. Nvidia not only offers AI GPUs, but also a software platform, Cuda, used for AI model development and training. Nvidia is also expanding its data center networking solutions, helping to tie GPUs together to handle complex workloads.
After a thorough review of the options trading surrounding NVIDIA, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of NVIDIA
- Currently trading with a volume of 20,976,326, the NVDA's price is up by 2.21%, now at $126.24.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 54 days.
Expert Opinions on NVIDIA
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $162.6.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Raymond James keeps a Strong Buy rating on NVIDIA with a target price of $140. * An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $170. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for NVIDIA, targeting a price of $155. * An analyst from Rosenblatt persists with their Buy rating on NVIDIA, maintaining a target price of $200. * An analyst from Truist Securities persists with their Buy rating on NVIDIA, maintaining a target price of $148.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest NVIDIA options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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