Stocks Analysis by Michael Kramer covering: Nasdaq 100, S&P 500, NVIDIA Corporation, Tesla Inc. Read Michael Kramer's latest article on Investing.com
closed up by around 80 basis points. Most of the movement in both indices can be attributed to Tesla suddenly became less appealing to traders. Call volume for Nvidia collapsed, with only 1.7 million contracts traded yesterday compared to the 20-day average of 2.5 million.Even total volume in Nvidia was down for the day, dropping 31% compared to its 20-day average.
Tesla’s weighting in the Bloomberg 500 is only 1.46%, compared to Nvidia’s at 6.75%. For Tesla to have the same impact as Nvidia, rising by 1%, Tesla would need to rise by almost 5%. As a result, Tesla’s stock would need to rise significantly to match the impact that Nvidia’s daily trading action brings to the market. So, it will be important to keep track of where the option volumes gravitates to from here.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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