(Bloomberg) -- Nvidia jumped as much as 4 percent ahead of its meeting with investors today and options show the potential for a further move into management's presentation scheduled to begin at 11:30am.
The current at-the-money straddle set to expire on March 22 shows options traders are expecting a move of 4.3 percent in shares between now and the end of the week.
Only 11 percent of Nvidia's total open interest is set to expire on Friday, with calls outweighing puts by 8 percent which, on the surface, reads slightly bullish. Volatility ahead of the investor day has jumped to 58 over the past 24 hours, still below the 3-month average of 70 but above options expiring on March 29, trading at 43 percent.
To contact the reporter on this story: Gregory Calderone in New York at gcalderone7@bloomberg.net
To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Scott Schnipper
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