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.
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.
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