ARM Surges 15% to $256.59 on NVDA Vera Revenue but Captures Only 2 to 5 Percent of the Deal

At 100x forward P/E versus NVDA's 25x, ARM's implied valuation requires Vera to become a multi-generational franchise, even as incremental royalty income is capped near $400M to $1B annually. Heavy call-options skew signals retail crowding, raising reversal risk that could drag the broader SOX index lower.