Traders bet Nvidia's stock will return to record highs soon

Shares of Nvidia fell a bit on Tuesday after a WSJ report raised questions about OpenAI growth targets and the whole AI complex. Options traders used the sell-off as an opportunity to make bullish bets that the chipmaker will return to all-time highs. Up until Tuesday, Nvidia options had been cheaper to trade than in the VanEck Semiconductor ETF (SMH) , a result of its tight trading range for much of the past year. …