NVDA Options Seeing High Volume Activity Amid Reports of Graphics Card Production Restart

The options market is abuzz with activity today as investors eye NVIDIA Corporation (NASDAQ:NVDA), with the weekly 4/9 560-strike call and its counterpart, the 570-strike from the same series, attracting the most attention. A total of 73,000 calls and 37,000 puts have already crossed the tape, with new positions being opened at both contracts.

This trend is not unique to today's trading session, as NVDA has been seeing a preference for calls in recent times. In fact, the weekly 4/1 550-strike call was the most popular contract during this period, with 370,413 calls and 251,483 puts exchanged over the past two weeks.

The significant price action has not gone unnoticed by option traders, who are taking notice of NVDA's recent performance. The company has landed on Schaeffer's Senior Quantitative Analyst Rocky White's list of stocks that have attracted the highest weekly options volume within the past two weeks. Additionally, NVDA boasts a healthy 128.3% year-over-year lead and a 6.7% rise in 2021.

The equity is also showing signs of life on the charts, with shares trading at $559.42, up 1.3% amid reports that the company could be working to solve stock-level shortage issues with its RTX 3000 graphics card by bringing back an older model. This news has sparked optimism among investors, who are looking for NVDA to lock in its third-consecutive win and potentially close above long-time support at the 130-day moving average.

As traders continue to monitor the situation, it will be interesting to see how NVDA's options activity unfolds in the coming days. With the company's strong fundamentals and recent price action, now may be a good time for investors to consider taking a closer look at its options landscape.

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