Options Market Statistics: Nvidia Stock Closes at All-time High Before Earnings, Options Pop
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$NVIDIA(NVDA.US$ shares rose by 2.25%, closing at $504.09. Its options trading volume is 0.74 million. Call contracts account for 63.7% of the whole trading volume.
Shares of Nvidia closed up 2.3% at an all-time high, topping $504 on Monday. The record comes ahead of the company's fiscal third-quarter results on Tuesday, when analysts are expecting to see revenue growth of over 170%.
Expectations are high leading into NVDA's FQ3′24 earnings call on Nov-21," Bank of America analysts wrote in a report last week. They have a buy rating on the stock and said they "expect a beat/raise."
However, they flagged China restrictions and competitive concerns as two issues that will capture investor attention. In particular, the emergence of AMD in the generative AI market presents a new dynamic for Nvidia, which has mostly had the AI graphics processing unit (GPU) market to itself.
$Intel(INTC.US$ shares rose by 2.12%, closing at $44.74. Its options trading volume is 0.33 million. Call contracts account for 66.7% of the whole trading volume.
An improving Intel 2024 estimated Data Center road map sees the most prolific product launches with Emerald Rapids, Sierra Forest, and Gaudi2/3 Accelerators. These releases would make estimated 2024 one of the most prolific product launch years for Intel.... Analysts are raising fiscal-2024 revenue/earnings-per-share estimates from $60.9 billion/$1.74 to $63.8 billion/$2.01.
$Vale SA(VALE.US$ shares rose by 3.37%, closing at $15.65. Its options trading volume is 0.31 million. Call contracts account for 50.8% of the whole trading volume.
B of A Securities analyst Caio Ribeiro upgrades Vale from Neutral to Buy and announces $20 price target.
Unusual Stock Options Activity
Some notable put activity is being seen in $ChargePoint(CHPT.US$, which is primarily being driven by activity on the Apr 19th 2024 2.00 put. Volume on this contract is 40,026 versus open interest of 849.
Daily Active Index & Sector ETF Options
Source: Benzinga, Dow Jones, CNBC
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