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Options Market Statistics: Nvidia to Report Q3 Earnings Wednesday as AI Fever Continues to Power Wall Street, Options Pop

$NVIDIA Corp(NVDA)$   will report its Q3 earnings after the bell next Wednesday, giving Wall Street its best and latest look into the strength of the AI trade.

The world's largest publicly traded company by market cap, Nvidia's stock price has continued to rocket higher throughout 2024, thanks to the explosive growth in AI across the tech landscape and beyond. Shares of Nvidia were up 189% year to date as of Friday, easily outpacing any of the company’s chip rivals. $Advanced Micro Devices(AMD)$  , Nvidia's closest competitor, has seen its stock price sink nearly 8% year to date, while $Intel(INTC)$   , which is contending with a difficult turnaround, has seen its stock plunge 51%.

The options market was notably active, with a volume of 5.45 million contracts, where calls constituted 60.1% of the activity. The most traded calls are contracts of $145 strike price that expire on November 15. The total volume reaches 241,163 with an open interest of 58,115.

$SUPER MICRO COMPUTER INC(SMCI)$   faces a Monday deadline for filing a plan with Nasdaq to regain compliance with its financial reporting requirements or get delisted from the exchange. SMCI stock wavered on Friday.

Meanwhile, many Wall Street analysts believe SMCI stock is simply too radioactive to touch right now.

"We believe it is difficult to have a strong stance on SMCI until either: 1) downside risk is minimized with either the company approaching prior valuation lows matching 2018 or worst-case scenarios play out minimizing future downside risk, or 2) more details are available including a path to SMCI resolving its current issues," Wedbush Securities analyst Matt Bryson said in a client note Friday. He has a neutral rating on SMCI stock.

The trading session was marked by substantial options activity, with a volume of 1 million contracts, of which 44.5% were calls. The most actively traded options were the $18.5 calls set to expire on November 15.

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