NVIDIA Options Traders See Stock Moving Higher Through Friday

NVIDIA Corporation NVDA shares traded higher on Tuesday after BofA Securities maintained a Buy rating on the stock and raised its price target from $215 to $255.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said NVIDIA traded at over 1.3x average daily options volume and was the second most active single stock on Tuesday.

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There were buyers of 60,957 of the February 230-calls at an average price of $3.50 per contract, Khouw mentioned.

The traders expect NVIDIA’s stock to move higher through the end of the week.

Price Action: Shares of NVIDIA gained 5.4% to close at $229.71 on Tuesday, and lost 0.6% in the after-hours trading session.

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