NVDA reaches its near term top. Short
Updated
NVDA surged an impressive 25% over the past week. Even though the momentum is strong there will be some profit taking in place. The short strategy that I will adapt this time is bear call spreads, expiry in may 26, or Jun 2 17
SC - 135
LC - 140
Net credit = 0.45 per contract[symbol="HTTPS://WWW.TRADINGVIEW.COM/X/XVEIBZPE
SC - 135
LC - 140
Net credit = 0.45 per contract[symbol="HTTPS://WWW.TRADINGVIEW.COM/X/XVEIBZPE
Comment
if NVDA is able to rush up to 140, i will close the current position and move to the further strikes to compensate the lost that will incur if this actually happens.Comment
NVDA corrects as the dow, nasdaq, and s&P are all correcting because of "trump" according to the news. However, I believe the true reason behind this sell off is it simply stay there trading flat for a while and when there are uncertainties people will rush to safe haven. That's just it. Nothing else.
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