Someone with a lot of money to spend has taken a bearish stance on NVIDIA (NASDAQ:NVDA).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NVDA, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 39 uncommon options trades for NVIDIA.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 69%, bearish.
Out of all of the special options we uncovered, 25 are puts, for a total amount of $1,127,496, and 14 are calls, for a total amount of $595,929.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $380.0 to $505.0 for NVIDIA over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for NVIDIA's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of NVIDIA's whale trades within a strike price range from $380.0 to $505.0 in the last 30 days.
Comments
running out of steam here. tried to breach $500 again in the most bullish week of 2023 after astronomical guidance but failed. the stars won't align like that again, especially since AMD, INTC were ripping today, while NVDA and AVGO were deep red. this can go to $600-$800 by end of 2024. 2023 hot run seems to be over.
NVDA $500++ remains in play for next week, my esteemed investing brethren!ššæāāļøššŖ
Excellent week guys - to $600 next week. Cheers!
Nvidia, still can't sustain a $500 close.
Typhoon š going straight for Nvidia this time