Here’s Why Nvidia’s Drop May Not Impact US Indexes That Much
- Most-owned Nvidia put expiring Friday is out-of-the-money
- Max pain level of $120 might act as short-term support
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Turns out, Nvidia Corp.’s results might not be the cataclysmic event stock market watchers were expecting.
The tech giant’s shares fell as much as 5.3% in premarket trading on Thursday after earnings failed to live up to investors’ hopes. Yet despite its large weighting on the S&P 500 Index and Nasdaq 100 Index, the gauges edged higher. Nvidia was down 3.6% by 7:51 a.m. in New York.