Super Micro Computer stock is fresh off an all-time high
Super Micro Computer Inc (NASDAQ:SMCI) is 1.1% higher to trade at $218.33 this afternoon, while boasting an impressive 411.5% year-over-year lead. The shares are fresh off a June 9, all-time high of $270.18, and still have support from their ascending 30-day moving average, after pulling back to a familiar floor at the $210 region over the last few days.
Though short sellers have already started to hit the exits, with short interest down 12.5% in the last two reporting periods, the 4.83 million shares sold short still make up 10.6% of the stock's available float. This indicates a further unwinding of pessimism may continue generating tailwinds.
The security has been popular with options bulls of late. SMCI appeared on Schaeffer's Senior Quantitative Analyst Rocky White's list of S&P 400 (SP400) stocks that attracted the highest weekly options volume in the last 10 days. The equity saw 140,034 calls and 101,523 puts exchanged, with the June 250 call seeing the most action.
Now looks like a great opportunity to bet on Super Micro Computer stock's
next move with options, per its Schaeffer's Volatility Index (SVI) of 60% that stands at the relatively low 20th percentile of annual readings. Plus, SMCI's
Schaeffer's Volatility Scorecard (SVS) sits at 82 out of 100, meaning it has usually exceeded options traders' volatility expectations over the past 12 months.