Nvidia’s footprint stamped across IBKR’s most-active list ahead of Q2 earnings

While Nvidia (NASDAQ:NVDA) was atop Interactive Brokers’ (IBKR) weekly most-active list, the symbols tied to the AI chipmaker in the ranking underscored the company’s impact on the broader market, the trading platform said before Nvidia released its Q2 earnings report.

Nvidia (NVDA) drew in gross trades of 586.99K across its shares and options on IBKR’s platform before late Wednesday’s Q2 results arrived. That figure put Nvidia in the lead of IBKR’s list of the 25 most-active symbols over the past five sessions, as of Tuesday. Symbols tied to (NVDA) in the top-10 positions included Direxion Daily Semiconductor Bull 3X Shares ETF (SOXL), ProShares UltraPro QQQ ETF (TQQQ), and Super Micro Computer (SMCI).

“We’ve gotten quite used to seeing (NVDA) atop the leaderboard most weeks, cementing its key role in investor psychology,” IBKR’s Chief Strategist Steve Sosnick said Tuesday. “Looking beyond that, it is quite clear that the company plays a crucial role affecting a wide range of other popular investment vehicles.”

Sosnick previously dubbed Nvidia (NVDA) “The Market’s Atlas,” referring to the company’s “seeming ability to hoist the whole market on its broad shoulders,” he said. In this week’s list:

#4 and #9: Direxion Daily Semiconductor Bull 3X Shares ETF (SOXL) and Direxion Daily Semiconductor Bear 3X Shares ETF (SOXS). Some investors sought to triple-lever their exposure to semiconductors with the ETFs considering Nvidia’s (NVDA) 9.5% weighing in the bellwether Philadelphia Semiconductor Index (SOX). “Interestingly, unlevered (SOXX) is not on the list. Our customers like action,” Sosnick said.

#6: ProShares UltraPro QQQ ETF (TQQQ): “NVDA’s weight in the Nasdaq-100 (NDX) is a bit over 8%, so of course it will have an effect on ETFs that track NDX,” Sosnick said, referring to triple-levered TQQQ that was in 6th place.

A show of “hiccups in demand” for Nvidia’s (NVDA) products could have an effect on other semi stocks, such as #3 (AMD), #20 (INTC), and #22 (MU).

Tesla (TSLA), in 2nd place, and Super Micro Computer (SMCI), in 8th, are some of (NVDA)’s key customers. Other customers in the tally were (META), (AMZN), (AAPL), and (MSFT). Alphabet (GOOGL)(GOOG) “would complete the Mag 7 superfecta, but it missed this week’s list,” Sosnick said.

See below for the full data on the IBKR 25 most-active list: