KUALA LUMPUR, May 7 (Bernama) -- Bursa Malaysia closed marginally higher today, supported by continued buying in banking heavyweights following Bank Negara Malaysia’s decision to maintain the overnight policy rate (OPR) at 2.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.98 points, or 0.11 per cent, to 1,758.85 from Wednesday’s close of 1,756.87. The benchmark index, which opened 5.94 points higher at 1,762.81, moved between 1,758.42 and 1,768.46 during the day. Market breadth was positive with gainers beating losers 660 to 583. A total of 593 counters were unchanged, 815 untraded, and nine suspended. Turnover eased to 3.78 billion units worth RM4.24 billion, compared with 3.98 billion units worth RM3.97 billion yesterday.
Nvidia surged higher as bullish options activity exploded, with traders placing massive bets that the AI-driven rally still has room to run.
What Happened
NVIDIA jumped about 5%, breaking above a key technical level known as a “call wall” (~$205) — often seen as resistance.
At the same time:
- A trader paid $57 million for call options (bullish bet)
- The trade covers 524,000 shares at $195 strike
- Breakeven: $216.75 within ~72 days
This means the buyer is betting Nvidia will continue climbing significantly from current levels (~$205).
Smart Money Signal
Another key move:
- A trader sold put options at $202.50
- Collected $2.12 million premium
This is important because:
Selling puts = betting the stock will NOT fall below that level
Signal: Big players see $202–205 as a strong support zone
Gamma Effect Supporting the Rally
- Gamma Flip level: ~$202.65
- Nvidia is currently above this level (long gamma zone)
What this means:
- Institutions are forced to buy when price dips
- And sell when price rises
Result: smoother uptrend + reduced volatility
Why Nvidia Is Moving
The rally is backed by strong fundamentals:
- AI demand continues to surge
- Advanced Micro Devices earnings confirmed strong AI infrastructure growth
- Market sentiment improved on easing geopolitical fears
Key Takeaways
- $57M call options = strong bullish conviction
- Put selling confirms downside support (~$202)
- Break above call wall = bullish technical breakout
- Long gamma = dips likely to be bought
- AI demand remains the main driver
Overall: Momentum + options flow + AI story = bullish setup (short-term)
Watch This Level
- $216.75 → Key breakout target (options breakeven)
- If price moves above this → could trigger faster upside momentum
Summary:
Nvidia’s rally is not just hype — options market positioning shows big money is actively betting on further upside, with strong support forming below current levels.
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