AAL

Will Options Bears Begin to Bite At Nvidia Stock?

NVDA has shed more than 6% in the last two trading sessions

Deputy Editor
Mar 11, 2024 at 1:25 PM
facebook X logo linkedin


Nvidia Corp (NASDAQ:NVDA) just last week became the world's third-most valuable public company, thanks to its pole position as a leader in artificial intelligence (AI).  Due to this, the 'Magnificent Seven' member keeps a reserved spot on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attract the highest weekly options volume over the preceding two weeks.

NVDA once again took the second-place spot on White's weekly list. Over the last 10 trading days, 10,743,406 calls were traded compared to 6,850,206 puts, the latter seeing an uptick from the last time we covered Nvidia stock's options activity. The weekly 3/8 900-strike call still stood out as the most active contract.

MAO Chart March 112024

It's no surprise that calls rule the roost, considering the 75.7% year-to-date gain. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 1.52 ranks higher than 87% of readings from the past 12 months.

 

But NVDA was last seen down 0.6% to trade at $870.34, and shed 5.5% on Friday after hitting a record high of $974 earlier that morning. Going forward, it will be interesting to circle back and see if put traders continue to grow bolder. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.