The "Ferris Wheel" of stocks

Do you ever feel like the stock positions that you own are on one big Ferris Wheel? That is today for sure

Lets start with NVDA, it closed up 0.89% on the day but it opened up 3%
140 is still “The Magnet” for it. Now the 140s are building strength for NOV 15, 2024 which just so happens to be NOV’s OPEX. Tomorrow is OPEX for OCT
Right now the bulls would have to make a hard heavy push to get back up above 140 by tomorrows close, the Market Makers are working against that
I made some money today with it as I closed trades earlier in the day when price achieved that 140 mark, going back in here with any long plays will have to be strategic
We’re in a funky spot at the moment. OPEX is tomorrow, meaning prices will be affected and could be adversely, and there is not a 137 Strike available for the NOV 15’s…. I’m like what the heck man!! NVDA has soooooooo much liquidity however it doesn’t matter, lets get to work on it
Bullish investors could do a NOV 15, 2024 136 / 140 Bull Call Spread for 1.95 at the MID, that’s kind of a conservative play for sure. You won’t go broke if anything goes wrong but your not going to run off to Disneyland with their profits either
Others willing to place slightly more risk could consider the 138 / 141 or even the 142
The MID’s on those are 1.40 and 1.80 respectively
Both of those plays are highly conservative. Shortening the time frame to nearer dates like NOV 1, 2024 or any others could increase risk but also any potential profits. Any potential losses are capped to the price that you pay for the spread
NVDA reports earnings on Wednesday NOV 20, 2024

Speaking of Market Makers, I don’t know what “Zuck” did to make them mad, but they have ZERO intention of allowing META to get any where near 600 before tomorrows OPEX close

CAT I stepped into a few of those 395 / 400’s that I mentioned this morning, not many just a few as it still muddles here. Need to see it above 395 with Volume

GEO sold 90 of the contracts today. Still holding 50, if we get a dip larger than todays and start a bounce I’ll revisit for any additional plays

SN 😁 it closed up 0.90% today, and I just wanted to say Shark Ninja 😁
Tomorrow is another day

The Options Coach