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Nvidia Still Has Fans in the Options Pits

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Investors have taken a shine to Nvidia's weekly calls.

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As a result, the security's Schaeffer's put/call open interest ratio (SOIR) now rests at 0.25, indicating that calls quadruple puts among options expiring within three months. Plus, this ratio sits at a 52-week low, implying that near-term options players haven't been more call-heavy at any other time during the past year.

On the other hand, the brokerage bunch isn't so confident when it comes to NVIDIA. Currently, the stock has earned twice as many "holds" or "sell" ratings as "buy" or better endorsements.

Technically speaking, the shares of NVIDIA have pulled back along with the broader market, and were last seen lingering in the $13.58 vicinity. From a longer-term standpoint, the equity is staring up at its formerly supportive 10-day and 20-day moving averages, which have descended into the $13.60-$13.70 region. What's more, this neighborhood rejected NVIDIA's rebound attempts earlier this year, and could resume its role as a technical speed bump.



This article by Andrea Kramer was originally published on Schaeffer's Investment Research.

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No positions in stocks mentioned.
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