Looking At NVIDIA's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance on NVIDIA (NASDAQ:NVDA) has been observed through unusual options activity. The sentiment among big-money traders is split between 30% bullish and 69% bearish. Whales have been targeting a price range from $380.0 to $505.0 for NVIDIA over the last 3 months. The price of NVDA is currently down -1.43% at $427.26. Analysts from UBS, Piper Sandler, Susquehanna, and Raymond James maintain positive ratings on NVIDIA, while Wedbush downgraded its action to Outperform.
August 18, 2023 | 1:46 pm
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Unusual options activity indicates a bearish stance on NVIDIA. The price of NVDA is currently down -1.43% at $427.26. Analysts maintain positive ratings on NVIDIA, except Wedbush which downgraded its action to Outperform.
The bearish stance observed through unusual options activity indicates that big-money traders expect the price of NVIDIA to decrease. This, combined with the current price drop of -1.43%, could negatively impact the stock price in the short term. However, positive ratings from several analysts might mitigate this impact to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100