Options Market Statistics: Nvidia's AI Chip Demand Strong, Sales Growth Slows; Options Pop
News Highlights
1. $NVIDIA (NVDA.US)$ once again posted a beat-and-raise quarter fueled by booming artificial-intelligence demand, but its stock was down 2% in Wednesday's extended session. Wall Street may be taking issue with two factors.
One is that the company isn't topping expectations with its guidance by the same magnitude as before. Nvidia's $37.5 billion revenue forecast for the January quarter topped the consensus view of $37.1 billion. But "whisper" numbers on the buy side were perhaps more in the $39 billion to $40 billion range. And prior to the last two reports from Nvidia, the company's revenue guidance exceeded estimates by well upwards of $1 billion for five quarters in a row.
The most traded calls are contracts of $150 strike price that expire on Nov. 22. The total volume reaches 128,112 with an open interest of 189,564, while the most traded puts are contracts of $140 strike price that expire on Nov. 22.
2. $Target (TGT.US)$ stock took a dive, down 21%, Wednesday, with the most traded puts are contracts of $120 strike price that expire on Nov. 22. The total volume reaches 18,208 with an open interest of 880.
The retail giant reported a triple miss for the fiscal third quarter and provided a downbeat outlook, citing "unique" challenges and costs. Target also reported margins that fell due to higher digital fulfillment and supply-chain costs resulting from the costs of managing higher inventory levels and increased digital sales volumes.
Unusual Stock Options Activity
There was a noteworthy activity in $e.l.f. Beauty (ELF.US)$, with $125 calls topping the highest volume to open interest ranking. The highest volume over open interest ratio reaches 204.0x with 25,497 contracts.
Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, The Guardian, Bloomberg, MarketWatch
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Implied Volatility Rank: Volatility Analysis: IV, HV, IV Rank, IV Percentile
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