NVDA - Stochastic warning - June 240 puts
Look at the weekly chart for support for this trade idea. There is still time before NVDA reports earnings, and puts are relatively cheap right now (IV will rise in coming weeks).
This is a great example of how stochastic serves as a leading indicator to RSI. RSI went up a little with the higher low (2 green lines), while stochastic %K went lower (pink line).
I have a small position because capital will be tied up for a while and I rarely buy options over $5 (bigger price moves are needed to get higher return on capital)
This is a great example of how stochastic serves as a leading indicator to RSI. RSI went up a little with the higher low (2 green lines), while stochastic %K went lower (pink line).
I have a small position because capital will be tied up for a while and I rarely buy options over $5 (bigger price moves are needed to get higher return on capital)
Trade closed manually
I closed puts for about $1.30 gain per contract. It is less than what I wanted but indicators are bullish. Today is closing as a bullish engulfing candle and 20sma is trending upwards so I may look for calls.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.