Unusual Options Activity In Nvidia

Micron Technology, Inc. manufactures and sells memory and storage solutions worldwide and climbed nearly 4% today after an analyst from BMO Capital Markets reversed his bearish stance and upgraded the semiconductor company to outperform from market perform stating, "while fundamentals will likely get worse before they get better, we believe the shares have bottomed, we are also raising our target price from $50 from $32.  But this post isn’t about Micro Technology, it’s about Nvidia. 

Nvidia needs no introduction, but just to remind you, not only is Nvidia the leader in gaming, but also the leader in supplying chips needed for artificial intelligence and high performance computing the data center arena and driverless vehicle market.

However, in recent months, the stock price has been nearly cut in half in recent weeks.

Nevertheless, today Nvidia Corp. help lead semiconductor stocks higher on Monday, putting a benchmark index on track for its biggest two-day rally since 2015. Nvidia Corp. jumped over 5% today after a presentation by Chief Executive Officer Jensen Huang in Las Vegas Sunday that focused on improvements to the company’s graphics processors for personal computers and teased automotive-related announcements later in the week.

And the Smart Money must be expecting some significant improvements. I have never seen this much bullish usual options activity in a single stock before. The kicker is, all these options expire this Friday and are still several dollars out of the money. Let me just show you what I saw today.

I don’t question Smart Money, but there will be some resistance at the daily supply at $151, which just happens to be below all the bullish unusual options activity.

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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Published by Rolland Thomas on

with SteemPresshttps://mentormarket.io/rolland/unusual-options-activity-in-nvidia/

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