Ground Hog Day again, but different

If the market wasn’t a “mixed bag” today and yesterday too, I don’t know what it was…. It’s like Ground Hog Day, you hear that in the markets sometimes…. I know I say it, same thing different day…

One familiar name that didn’t go to “Da Moon” but stood out was NVDA
We need to talk about NVDA, againnnnnnn

It was exactly this time 3 months ago
NVDA was going into earnings like it is right now
NVDA unlike many others however does not report until NOV 19, 2024
We still have time

If you have been here a while you know that theoptionscoach.net has talked about 140 being “The Magnet” for NVDA many times in the past
Well just like in “Ground Hog Day” guess what the magnet is right now? Yeppp, you guessed it, the Options buyers are pouring into the 140 Strike hand over fist. Today saw a dramatic increase in Options buyers all the way up to the 151 Strike.. The 145’s the 150’s all heavy buying.

To offer you a small glimpse of a bigger picture, NVDA contains more Options than MSFT, GOOG, TSLA and META combined

Last quarter NVDA missed, some lost money. In comparison we took a small slap on the wrist bc we utilized our Protective Play strategy of Verticals or to be more to it, Bull Call Spreads. That’s what we are looking to do again here, only not through earnings, but up to, for now.

For investors looking to try to capitalize on this with limited downside risk one could consider buying the 135 Call and then selling the 140 Call for OCT 18, 2024…. The MID price for that is at 1.94 ( we never pay over the MID, no way ) if we can’t get in at the MID we just move on

For more conservative investors they could consider buying the 135 Call and selling either the 137 or the 138 Calls…. The MID for those is at 0.94 and 1.32 respectively

Those are just the OCT 18’s there are options dated for OCT 25, NOV 1, 8 and 15 all leading up to earnings. For investors wanting even further downside protection they could consider one of those dates

Yesterday I had my own “Ground Hog Day” if you will…. I had been “battling” a ground hog that dug a deep hole under my house and I was unable to catch for weeks…… Well persistence beats resistance and I caught him. And rather than send him to “Ground Hog Heaven” he and I took a little trip about 30 miles from my house and this pic is now where his new home is…. After saying goodbye I then took advantage of the location and hit some trails…. Everyone should hit the trails with every chance that they get…. Tomorrow is another day

The Options Coach

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