NVIDIA Options Traders Betting On Further Upside Into September

Shares of NVIDIA Corporation NVDA surged to an all-time high on Thursday after the company reported better-than-expected second-quarter financial results and issued strong revenue guidance for the third quarter. However, the stock was only 0.1% higher at the close on Thursday.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said NVIDIA was the most active single stock option on Thursday, with calls outpacing puts by 3 to 2.

Don’t forget to check out our premarket coverage here

There were buyers of 34,000 of the September 1 weekly 500-calls at an average price of $8.12 per contract, Khouw mentioned.

Traders see NVIDIA’s shares moving higher through the beginning of September.

Nvidia’s second-quarter non-GAAP earnings per share rose 429% year-over-year from 51 cents to $2.70. Sequentially, the measure improved 148% from the previous quarter’s $1.09 per share. Analysts, on average, expected the bottom-line result to come in at $1.91.

Price Action: NVIDIA shares gained 0.1% to close at $471.63 on Thursday.

Check This Out: Intuit, Hibbett And 3 Stocks To Watch Heading Into Friday

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsLong IdeasNewsOptionsMarketsMediaTrading IdeasCNBCOptions Action Mike Khouw
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!