Went short @ market open this morning. I feel that the top might be in on NVDA and the IV is worth trying a Call Credit spread. The ticker did not make a new high, and will most likely start a consolidation phase before the next leg higher ( or lower).
I went with the 525/530 spread OCT 20 banking $1.50 in credit. Looking to close between 20-50% profit with a max loss of 50%. The trade is around a 70 delta.
I went with the 525/530 spread OCT 20 banking $1.50 in credit. Looking to close between 20-50% profit with a max loss of 50%. The trade is around a 70 delta.
Trade closed: target reached:
Hit my short term profit target, 20% not bad for a 3 day trade!