Benzinga | Nov 15, 2021 12:07PM EST

Looking At NVIDIA's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on NVIDIA (NASDAQ:NVDA).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with NVDA, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 41 uncommon options trades for NVIDIA.

This isn't normal.

The overall sentiment of these big-money traders is split between 46.34% bullish and 53.66%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $901,185, and 29 are calls, for a total amount of $3,204,489.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $320.0 for NVIDIA over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for NVIDIA's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of NVIDIA's whale activity within a strike price range from $115.0 to $320.0 in the last 30 days.

NVIDIA Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestNVDA CALL SWEEP NEUTRAL 11/19/ $305.00 $595.7K 6.4K 8.6K 21NVDA CALL TRADE BEARISH 01/21/ $115.00 $332.1K 749 19 22NVDA CALL TRADE NEUTRAL 09/16/ $245.00 $307.8K 293 43 22NVDA CALL TRADE BULLISH 01/20/ $200.00 $259.6K 5.4K 29 23NVDA PUT TRADE BEARISH 11/19/ $297.50 $223.2K 1.4K 1.4K 21

Where Is NVIDIA Standing Right Now?

* With a volume of 16,061,480, the price of NVDA is down -2.67% at $295.78.

* RSI indicators hint that the underlying stock may be overbought.

* Next earnings are expected to be released in 2 days.

What The Experts Say On NVIDIA:

* Wells Fargo has decided to maintain their Overweight rating on NVIDIA, which currently sits at a price target of $320.0.

* Oppenheimer has decided to maintain their Outperform rating on NVIDIA, which currently sits at a price target of $350.0.

* B of A Securities has decided to maintain their Buy rating on NVIDIA, which currently sits at a price target of $340.0.

* Wedbush downgraded its action to Neutral with a price target of $300.0

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.