Super Micro Computer (SMCI) is experiencing a surge in trader optimism, with options activity indicating a strong belief in a comeback. Despite recent challenges, including legal troubles involving its co-founder, the company’s positive earnings guidance is driving renewed interest.
Options traders are heavily betting on a rise in SMCI’s stock price, evidenced by a significant skew towards call options. This bullish sentiment follows a period where the stock had fallen nearly 50% from its peak.
Super Micro Computer Stock Surges as Traders Bet on AI Comeback
In a market where AI stocks are consistently hitting new highs, Super Micro Computer (SMCI) is seeing a significant surge in trader interest, with options volume heavily favoring a bullish outlook.
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 5, 2026. Brendan McDermid | Reuters
Despite being down 49% from its previous year's peak, Super Micro's stock rose 15% on Wednesday following its earnings report. Options trading reflects a strong belief in a turnaround, with call volumes outnumbering put volumes by nearly five to one, and call premiums making up approximately 90% of the total options value traded.
Notable trades include a $1.4 million purchase of 2,000 calls with a strike price of $35, expiring in January of the following year. The most popular contract was also the $35 strike call, with an expiration date of May 8. Super Micro's stock has not traded above $35 since December, making these bullish bets significant.
The company's shares have climbed nearly 50% since March, a period marked by a 30% stock decline. This downturn followed reports that a co-founder, a manager, and a contractor were charged with smuggling Nvidia chips to China. While the company itself was not named as a defendant, the incident cast a shadow over its operations.
Tuesday's earnings report offered a glimmer of hope, with the server maker issuing strong guidance. Although fiscal third-quarter revenue fell short of estimates, the positive outlook appears to be revitalizing investor confidence.
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