Options Traders Blast Nu Stock Before Earnings

Total options volume is running at 24 times the intraday average

Deputy Editor
Nov 14, 2023 at 1:35 PM
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Nu Holdings Ltd (NYSE:NU) stock is on the rise this afternoon, attracting the attention of options traders ahead of the digital banking service's earnings report, due out after today's close. At last glance, NU was up 3.6% at $8.76.

More than 153,000 calls and 108,000 puts have crossed the tape so far today, or 24 times the average intraday volume. Most popular is the January 19, 2024 9-strike call, followed by the July 19, 2024 7-strike put, with new positions being opened at the latter.

Looking back at Nu stock's last eight post-earnings moves, it tends to jump higher. In fact, the equity posted gains after five of its last eight next-day sessions. Historically, NU averaged an 8.6% swing -- regardless of direction -- after earnings, and the options pits are pricing in a slightly larger move of 10.5% this time around. 

Today's jump puts the security at its highest level of trading since just after going public in February 2022. Nu stock is now 115% higher in 2023, and just over 100% higher over the last 12 months. 

NU Chart November 142023

 

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