NVIDIA Being Supercharged By AI Future And Options Traders Betting On Stock Heading Higher

NVIDIA Corporation NVDA and Adobe Inc. ADBE disclosed a new partnership to unlock the power of generative AI.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said NVIDIA was the third-busiest single stock option, with bullish bets narrowly outpacing the bearish ones on Tuesday.

Don’t forget to check out our premarket coverage here

There were buyers of 33,366 of the March 24 weekly 260-calls at an average price of $6.18 per contract, Khouw mentioned.

The trader sees NVIDIA’s stock closing the week on a higher note.

Exane BNP Paribas analyst David O'Connor, meanwhile, upgraded NVIDIA from Underperform to Neutral and announced a $230 price target.

Nvidia's CEO Jensen Huang, on Tuesday, presented the keynote address at the company’s 2023 GTC conference, and an Nvidia bull came away from the event with increased conviction.

Price Action: NVIDIA shares gained 1.2% to settle at $261.99 on Tuesday.

Check This Out: Top 3 Utilities Stocks Which Could Rescue Your Portfolio This Month

Photo: Shutterstock

 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: Long IdeasNewsOptionsMarketsTechMediaTrading IdeasCNBCMike KhouwOptimize AdvisorsOptions Action
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!