NVDA saw more than 100 million options exchange hands over the last two weeks
Even after losing roughly 6% over the last five trading days, Nvidia Corp (NASDAQ:NVDA) stock once again sat atop Senior Quantitative Analyst Rocky White’s list of tickers that attracted the most options volume during the last two weeks. Over that period, NVDA saw 65,335,952 calls and 37,975,555 puts traded. Most popular during this time period was the weekly 7/12 130-strike call.
Call traders could see their bets pay off soon, as NVDA is within one standard deviation of a historically bullish trendline. Specifically, the security’s pullback placed it near its 50-day moving average. According to a separate set of data from White, Nvidia stock flashed seven similar signals over the past three years. The stock was higher a month later 71% of the time, and averaged a 10.5% gain.
Last seen 3% higher to trade at $121.52, a move of similar magnitude would put the shares within striking distance of their June 20 all-time high of $140.76. Already up 144.8% in 2024 thanks to artificial intelligence (AI) tailwinds, NVDA also boasts an impressive 173.7% year-over-year gain.
