Options Market Statistics: NVIDIA Shares Surge for Fifth Straight Day and Analysts Maintain Bullish Stance Post-GTC Conference, Options Pop
$NVIDIA Corp(NVDA)$
Nvidia achieved yet another closing price record on Friday, with its stock price having risen for five consecutive days since the opening of the GTC conference. This week, the stock has surged an impressive 7.4%, extending its winning streak to 11 weeks, thus breaking the record for the longest consecutive weekly rise.
According to analysts, there is potential for more beat-and-raise quarters, along with opportunities in sovereign AI. Mizuho desk-based analyst Jordan Klein predicts that Nvidia will remain the most popular and favored investment option for tech and semiconductor investors for the remainder of the year. He emphasized that the company's next major catalyst will be the waiting game for B100 shipping and H200 sales, leading up to the launch of its Blackwell chip architecture that was showcased at GTC. UBS analyst Timothy Arcuri also expressed optimism, raising his price target to $1,100 from $800 in a report released on Thursday, and 13 other analysts raised their price targets this week, according to a Benzinga report.
$Nike(NKE)$ shares fell by 6.90%, closing at $93.86. Its options trading volume was 0.44 million. Call contracts account for 37.9% of the total trading volume. The most traded calls are contracts of $110 strike price that expire on Mar 22nd. The total volume reaches 4,104 with an open interest of 3,722. The most traded puts are contracts of a $90 strike price that expires on Mar 22nd; the volume is 11,916 contracts with an open interest of 3,251.
Nike's Q3 FY2024 financial report, which covers the period ending in February, has shown that although the company's revenue for the last quarter was US$12.43 billion, exceeding the market's expected revenue of US$12.28 billion, its sales growth in China was sluggish during Q4, and its revenue growth guidance for 2025 fell below expectations.
The company has adjusted its revenue guidance for H1 of FY2025 to low single digits, reflecting a "weak global macro outlook", and expects full-year gross margin to increase by about 1.2 percentage points, which falls below analysts' predictions of 1.4 to 1.6 percentage points.
$Lululemon Athletica(LULU)$ shares fell by 15.80%, closing at $403.19. Its options trading volume was 0.34 million. Call contracts account for 50.9% of the total trading volume. The most traded calls are contracts of $560 strike price that expire on Mar 22nd. The total volume reaches 495 with an open interest of 410. The most traded puts are contracts of a $465 strike price that expires on Mar 22nd; the volume is 1,291 contracts with an open interest of 510.
Lululemon has recently announced a decline in its U.S. store sales at the start of this year, which has resulted in the company falling short of its expected sales guidance for both the first quarter and the full year. The company is projecting revenue for the current fiscal year to range from US$10.7 billion to US$10.8 billion, representing a year-on-year increase of 11% to 12%. However, this growth rate is notably lower than the 19% increase achieved in the previous year.
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