Nvidia Pumps Option Bets in Chipmakers as Tech Extends Rally
- One-year options skews grow more bullish after Nvidia earnings
- Nasdaq 100 flirts with intraday record higher amid broad rally
Nvidia headquarters in Santa Clara, California.
Photographer: Michaela Vatcheva/BloombergThis article is for subscribers only.
Nvidia Corp.’s sterling earnings report ignited demand for bullish bets tied to the chipmaker and a slew of other artificial intelligence companies.
The chipmaker rallied as much as 16% Thursday after reporting revenue that topped estimates and giving guidance that beat expectations. The market’s laser-like focus on Nvidia’s earnings had already pumped interest in the firm’s options, before the robust report pushed call volumes above one million contracts to the highest level since November. The rally pushed to its all-time intraday high, with the Nasdaq 100 index flirting with a record.