Observed Signal · May 6, 2026 · Earnings Report · Source: CNBC Technology · Impact: 4/5 · Sentiment: Positive
Traders Bet on Super Micro After Earnings
Options traders have been heavily buying calls on Super Micro Computer (SMCI) after the company's earnings and upbeat guidance, sending the stock up about 15% on Wednesday. Options volume skewed strongly bullish with roughly five times more calls than puts and call premiums making up ~90% of options value traded. Large call trades included a $1.4 million purchase of 2,000 Jan. 15 35-strike calls; the most-traded contract was the 35-strike expiring May 8 with ~22,000 trades. SMCI shares remain well below last year’s highs but are up nearly 50% since a March sell-off tied to criminal charges against individuals accused of smuggling Nvidia chips to China; the company was not named as a defendant.
Earnings-driven market reaction and large, bullish options activity signal investor confidence and may indicate shifting sentiment in AI/server supply-chain stocks; earnings and guidance can materially affect market pricing and sector momentum.
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Key Takeaways & Evidence Grounding
- Super Micro Computer (SMCI) stock rose about 15% on Wednesday after earnings and strong guidance.
- Options traded with nearly five times more calls than puts; call premiums accounted for ~90% of options value.
- A trader spent $1.4 million to buy 2,000 of the 35-strike calls expiring Jan. 15 next year.
- The most-popular contract was the 35-strike expiring May 8, with ~22,000 trades.
- SMCI shares are down ~49% from last year’s high but up almost 50% since a March crash tied to reports that individuals were charged with smuggling Nvidia chips to China; the company was not named as a defendant.
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Super Micro jumps after $60B orders, margin upgrade
Super Micro Computer said it received more than $60 billion in new orders in its fiscal fourth quarter and raised its expected gross and adjusted gross margins for the June quarter to 15%–17%, up from a previous 8.2%–8.4% range. CEO Charles Liang pointed to new work with SpaceX — writing that he was “proud to co-build another new Gigawatt AI datacenter for @SpaceX and @XAI within a year.” Demand for servers with Nvidia GPUs is surging, boosting Super Micro and lifting shares of rivals Dell and Hewlett Packard Enterprise. Super Micro said its backlog hit record levels at the end of the 2026 fiscal year and expects revenue at the low end of its guidance range; it plans an earnings call on Aug. 11.
Three AI-Related Stocks to Watch Amid Big Options Moves
CNBC’s Options Action highlights three AI-related semiconductor stocks to monitor this week as traders price large post-earnings moves. AI chipmaker Cerebras reports earnings Tuesday — its first since going public — with the stock down roughly 30% from its IPO and options implying an ~11.5% move. Micron reports Wednesday; its implied volatility is extremely high (116), traders expect about a 10% swing and notable call-buying has driven large option-premium flows. Super Micro Computer jumped after unveiling a data-center blueprint using Nvidia architecture and has heavy call activity. The article cites option-volume data from SpotGamma and ThinkOrSwim and notes related activity in the Roundhill Memory ETF and memory-sector names including Sandisk and Western Digital.
Super Micro Q3: Revenue Doubles, Stock Rises 18%
Super Micro Computer reported fiscal third-quarter results and issued stronger-than-expected guidance, sending its shares up about 18% in extended trading. Adjusted EPS was $0.84 versus $0.62 expected, while revenue came in at $10.24 billion versus $12.33 billion expected, a 123% year-over-year increase. Management said customer readiness and industry supply constraints delayed some revenue recognition. The company forecast fiscal fourth-quarter adjusted EPS of $0.65–$0.79 on $11.0–$12.5 billion in revenue. Super Micro also confirmed it severed ties with a co-founder who was named in a federal indictment and said it is expanding Bay Area manufacturing capacity, including a fourth facility exceeding 714,000 square feet.
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