Pre Market OCT 11, 2024

Pretty quite here in the Pre Market this morning but then again it’s early, only 8am EST. Inflation report is coming out, traders are in wait and see mode for it

JPM beat earnings, banks are looking good this morning
UBER is up 5%
TSLA is down by over 6%

NVDA, we here at theoptionscoach.net are firm believers in you have to get it while the getting is good. As mentioned yesterday NVDA doesn’t report earnings until NOV 19, 2024. Yesterday we also spoke of a few different trade ideas for it. This morning lets take a look at how we can play it through earnings if an investor was bullish on its upcoming earnings but still wanted some downside protection

Right now we are looking at possibly adding ( will depend how NVDA acts today, red or green, we like green ) the JAN 17, 2025 Options
With price hovering around $135.00 right now lets take a look at buying the 135 Call and them selling the 145 Call. The MID price on that would be 4.68. We are not only paying for more time, but we are giving ourselves a big cushion in case of a miss, we would then have 2 months for the stock to recover.
More conservative investors could consider the 135 / 140 with a MID of 2.30

For highly advanced traders only Ratio Spreads would be worth a look.
We plan on offsetting costs and capitalizing with any price movements with these
2 to 1’s maybe, but the 3 to 2’s are more conducive for these trades, especially on the 135 / 140’s

S+P Support is at 5,760….
Time to grind

The Options Coach