Or you can just trade the stock too...so many options with Nvidia range bound and Jensen MUM as a mummy. Great long term buy 1 year out, but who knows when you need to get in. Not gonna change until something changes.
The Buzz is completely gone and IMHO it's very sad.
I'll just have to agree to disagree on that. The probability of the stock NOT having some kind of MAJOR move higher (the only real chance of LOWER is North Korea, or a HUGE overall market selloff) in the next few months is tiny. The stock has been range-bound for longer than ANY time I can remember, and as I've said, it will likely only take ONE major announcement and the stock will be 10-20% higher in 1-3 days.
That's just MY opinion, but I still would "suggest" that anyone short calls with a 13 or 14 strike that are trading as low as 15-25 cents should buy them back NOW and take a look at a higher strike in January, like the 15s, which give you upside to 15.40 or so, and give you 40 cents, now, which is more than most of the 13s are trading for. Much more upside and the same or more "protection" OR "income" to the downside.
And, once again, we were not even CLOSE to being the worst semi, today. Sheesh...CRUS, which was down over 4%, yesterday, was down ANOTHER 4%, today, and closed at a NEW 52 week low. TXN down 1.77%, INTC down 1.89% and on and on.
I've stated what I'm doing for myself, and will continue to add if for some absurd reason the stock goes lower. And, along with a pretty substantial stock position, I started building a call position, yesterday and today, starting with June and going out to next January, at 13s and 14s. If I'm wrong, again, so be it. But I simply find this to be one of the MOST compelling opportunities I've seen in a long time.
As the technicians say, "The longer the BASE, the HIGHER in space". It will happen SUDDENLY, and there will be no looking back. When? I don't know, but I'm betting it's by June.
As always, we'll know in the fullness of time?
It should be range bound at this point. Still think with any unexpected positive news, including anything from Nvidia on April 11th regarding finances, the stock price would pop at least short-term. Today, the stock continues the course downward along with all the other techs. Qualcomm is up (or down less) with a note and upgrade (or reiteration of a buy). I thought we'd see more buyback too, but we may see a kick up at the end of the day like we did yesterday. Unfortunately, there isn't much happening in general, not just for Nvidia, to gain traction or break the relatively tight range (we still have beta behavior imo).
If you own the stock sell calls when the stock trends up. I think puts at these levels are equally as good and if I were you I'd do both. I sold 13 calls at about April 12.75 anticipating the flat movement through most of the summer. Instead of selling puts I bought 10k more at about 12.35 in lieu of selling 12.50 puts and I wish I waited another day or so and sold 12 puts (didnt think it run down this far with the buyback). Timing the market has been almost impossible for me. However, with my call selling and average down purchases I am in at about 12 even. I am very confident that we see 16-18 before the year end.