YOLO Crowd Bets Nvidia Could More Than Double in Value by Friday
- Nvidia calls with a 1,940 strike were actively bought Monday
- Stock is trading for almost $885, gained 79% so far in 2024
Jensen Huang, CEO of Nvidia, displays the new BlackwellGPU chip in San Jose, California, on March 18.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Nvidia Corp., the world’s third-largest company by market value, is turning into a casino for the YOLO trading crowd.
Just look at the options activity on Monday, when traders bet that shares of the $2.2 trillion chipmaker will more than double its $885 price — by the weekend. Nvidia is no stranger to triple-digit gains after soaring 231% in 2023 on optimism for its semiconductors used in artificial intelligence technology. But pulling that off in less than a week would be quite a reach, even for the hottest stock in the market.