The tech name will leave the Nasdaq-100 Index (NDX) on Monday, Dec. 23.
Super Micro Computer Inc (NASDAQ:SMCI) stock is down 6.8% to trade at $33.97 at last check, after Bloomberg reported that the tech giant is trying to raise equity and debt capital with assistance from Evercore ISI. The company missed the deadline for its last earnings report, and announced on Friday it is leaving the Nasdaq-100 Index (NDX) on Monday, Dec. 23.
Though SMCI still sports an 18.9% year-to-date lead, it is on track for its fifth-straight daily loss. Shares are now testing support from the $30 level, which contained a late November pullback, but are still grappling with long-term pressure from the 100-day moving average.
Despite all of this negative attention, SMCI has remained popular with options bulls, ranking third in Senior Quantitative Analyst Rocky White's list of stocks that attracted the most options volume over the last two weeks. Over that time period, 6,930,418 calls and 3,299,181 puts were traded. The most popular contract by far within that period was the weekly 12/6 50-strike call.
At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Super Micro Computer stock's 50-day call/put volume ratio of 1.73 sits higher than 83% other readings from the past year. This means that options traders have been bullish longer term, too.
Short sellers has increased since the last time we checked in with the equity, though. The 89.26 million shares sold short make up a whopping 17.8% of SMCI's available float.