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Maybe you were camping on a mountaintop or lost in the woods this past Friday, but Nvidia, one of the market’s most important, high-volume stocks right now, took a wild ride to close out the week.
Options volatility exploded higher as the seemingly unstoppable bullish fever on the stock broke. Shares slid around 10% from their intraday high.
Today, though, options activity was at a low – activity was just 70% of NVDA’s five-day average.
So what gives? Well, we’re going to look at exactly what’s happening. We’re likely seeing the beginning of a wind-down in Nvidia, and the next chapter could be mostly bearish.
