Over 7 million SMCI calls were exchanged in the last 10 days
Super Micro Computer Inc (NASDAQ:SMCI) was last seen down 2.1% at $45.20 today amid broader tech headwinds. The stock is fresh off a stellar week, marking a 44.3% weekly gain on Friday -- its best week since November. Familiar pressure at the $50 region lingers above, however, as does the 250-day moving average. Since the start of the year, SMCI is up 48.7%.
Super Micro Computer reported disappointing fiscal third-quarter earnings results earlier this month, but has been particularly popular in the options pits since. The stock landed on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that attracted the highest options volume over the past 10 days, with over 7 million calls and more than 2.2 million puts exchanged during this time.
The May 50 call was the most popular over these last two weeks, followed by the 47 call in the same series. Today, the June 45 call is seeing the most activity, with new positions being opened there.
Looking back 10 weeks, call traders have been targeting SMCI at their fastest rate all year. The stock's 50-day call/put volume ratio of 2.21 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than all other readings from the past 12 months.
Options are reasonably priced at the moment, too. The security's Schaeffer's Volatility Scorecard (SVI) of 86% ranks in the 16th percentile of its annual range, meaning options traders are pricing in lower volatility expectations than usual.