Over 19 million NVDA calls were exchanged in the last 10 days
Chip titan Nvidia Corp (NASDAQ:NVDA) is enjoying trade tailwinds with the rest of the "Magnificent 7" today, after the U.S. and China agreed to cut reciprocal tariffs by 115% for 90 days. The artificial intelligence (AI) leader was last seen up 5.3% at $122.76, trading at its highest levels since March. Year-to-date the equity remains down 8.6%.
Nvidia is a staple on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest options volume over the past 10 days, topping the list this time around. NVDA saw 19,201,948 calls and 12,992,345 puts exchanged during this time, with the most action at the weekly 5/2 115-strike call, which saw 820,283 contracts cross the tape.
So far today, NVDA has seen 1.83 million calls and 1.12 puts million exchanged hands. The May 125 call is the most popular by far, with new positions being opened there.
Options are reasonably priced at the moment, too. The security's Schaeffer's Volatility Scorecard (SVI) of 49% ranks in the 8th percentile of its annual range, meaning options traders are pricing in lower volatility expectations than usual.