Current Trade:  Short 150 DEC21 PUT @ $5.00
Current Price:  3.15-3.20
Update:  Buy To Close 150 DEC21 PUT @ $3.00-3.50
Profit 1.50 – 2.00 per contract

Going into the G20 weekend meeting we are going to go ahead and close out the NVDA options trade.  No need in assuming additional risk when the market conditions are unknown.   Though we expect a positive outcome, the market is starting to price it in and risk is shifting from short to long.

NVDA:

There is a minor resistance level around 167, and we will look for better prices for re-entry.

NVDA is simply messing around slightly under a level we could see a pullback.

Summary:

Never a bad time to take the money and run and that is what we are doing.

Order filled at 3.30 @ 11:20 AM EST

3 Responses
    1. Andrew Gonci

      I would not sell if I owned NVDA, the entire chip sector has been beaten up which is why we are looking to start positions. So if you are just buying the stocks outright, nothing wrong with holding. NVDA is down nearly 40% from its high, and it is best in breed. Especially with splunk and workday really beating on earnings. These are cloud based companies which is implying that there is still growth in these areas. AMD – NVDA and even INTC have exposure to these areas.

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