Arm Stock Hits Record Highs on NDX Inclusion

ARM has been shooting higher since the start of June

Deputy Editor
Jun 14, 2024 at 11:04 AM
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Publicly traded since September, Arm Holdings PLC (NASDAQ:ARM) stock is hitting record highs today, after reports that it will join the Nasdaq-100 Index (NDX), effective June 24, 2024. At last glance, ARM was up 4% at $164.42, earlier hitting a peak of $167.69.

The semiconductor name has been shooting higher lately, with only two negative closes since the start of June. In mid-May, tailwinds came from reports that the company hopes to launch its first artificial intelligence (AI) chip next year. Year-to-date, the equity is up a staggering 122.3%. 

Options traders are blasting ARM today, with 139,000 calls and 52,000 puts exchanged so far -- four times the intraday average volume. The June 170 call is the most popular, where new positions are being sold to open. 

It's also worth noting that short interest has been building and now represents 8.1% of the stock's available float. And that ARM's Schaeffer's Volatility Scorecard (SVS) of 83 out of 100 indicates that it has exceeded option traders' volatility expectations in the past 12 months.



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