NVIDIA's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Big money investors have shown a bearish stance on NVIDIA (NASDAQ:NVDA), with unusual options activity indicating a split sentiment: 35% bullish and 47% bearish. A total of 174 uncommon options trades were detected, with puts totaling $3,607,618 and calls $8,191,209. The price target range based on this activity is between $695 and $1030 over the next three months. Significant options trades include both bearish and bullish positions, with notable trades aiming for strike prices between $850 and $900. NVIDIA's current market status shows a slight increase in stock price to $907.42, with an RSI indicating it may be approaching overbought territory. Earnings are expected in 13 days, and market experts have issued a consensus target price of $1127.5 for NVIDIA.
May 09, 2024 | 1:47 pm
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NEUTRAL IMPACT
Unusual options activity and mixed sentiment among big money investors indicate uncertainty, with a bearish tilt. The stock's slight increase and upcoming earnings could lead to volatility.
The bearish stance among big investors, combined with the upcoming earnings announcement, suggests potential short-term volatility for NVDA. However, the mixed sentiment and the stock's current performance indicate uncertainty, leading to a neutral score.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100