ASML is rebounding after its recent downturn
ASML Holding NV (NASDAQ:ASML) stock is on the rise today, up 4.7% at $705.14 at last glance, after the chipmaker reiterated its 2030 outlook amid the artificial intelligence (AI) boom. The company's goal is between €44 billion ($46.3 billion) and €60 billion ($63.4 billion) in annual revenue by that time, with a gross margin between approximately 56% and 60%.
Today's pop has ASML further removing itself from a Nov. 6 52-week low of $654.77. The stock is also headed for its best day in almost two months while reclaiming its 20-day moving average for the first time since its sharp post-earnings drop in mid October (when it sent the chip sector reeling due to its sales warning). Year to date, the equity is down 6.8%.
Options traders are targeting ASML after the news. So far, 16,000 calls and 14,000 puts have crossed the tape, which is double the options volume typically seen at this point in the day. The November 730 call is the most popular, where new positions are being opened.
Options look like a good way to weigh in on the stock, too. ASML's Schaeffer's Volatility Scorecard (SVS) of 97 out of 100 means it's consistently outperformed options traders' volatility expectations over the past year.