Chip Stock Surges on Surprise Bull Note

Now looks like an attractive time to jump onto Nvidia stock with options, too

Managing Editor
Jan 10, 2020 at 9:42 AM
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Chip stock Nvidia Corporation (NASDAQ:NVDA) is enjoying a 1.4% lift this morning after being added to Citigroup's "catalyst watch list." This bold move from Citigroup now has the equity at a fresh one-year high of $246.50 right out of the gate. This is just another drop in the bucket for NVDA, with just having received a bull note in late December. Over the past 12 months the equity has tacked on 70%, with help from the ascending 40-day moving average.

Overall analyst attention was bullish coming into today, too. This is per the 19 of 27 covering firms sporting a "buy" or "strong buy" rating. Meanwhile, the stock's Schaeffer's Volatility Index (SVI) stands at 27%, in the lowest percentile of its annual range. This indicates that now is an attractive time to jump aboard the chip name with options.

Even  further, Nvidia stock has been more volatile than expected during the past 12 months. This is based on its Schaeffer's Volatility Scorecard (SVS) of just 85 (out of 100.)

 

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