NVDA Day is here

Todays the day. NVDA reports after the close. Current expected move is 10%. If it drops it could go back to the $115.00 area, if it pops the price area would be in the $140.00 range. Currently the 130 strike is still the strongest of all. Traders should factor in 2 things about that:

1st::: Many of those 130’s were bought weeks ago when the price was much lower…… 2nd:::::: Many of those 130 Calls were not simply bought but some were sold as “hedges”…. 140 is the number to watch for the bulls. It is were the JUL 19, 2024 O.I. was and it’s no coincidence it’s where price hit right before the big summer “crash”.

The I.V. Rankings on this are through the roof …. Meaning last minute options buyers here will “Have to pay an extra or additional premium”.

The SEP 20, 2024 are still the strongest with over 144,000 contracts at the 130 and 106,000 contracts at the 140… Those are on the Call side only. It’s worthy to note that every single strike in between holds more contracts that are at record levels as well.

5,600 is still the proverbial “Line in the sand” that traders need to be mindful of with the S+P 500…… We are barely holding up above that level this past week. The markets been on standby waiting for today. With NVDA’s current market cap at 3.2 Trillion, and expected move of 10%, that would make for over a 300 Billion boom or bust. I’ve always been a fan of “The A Team” myself. Time to grind….

Invest wisely live charitably and be well

Brother Bill