I once accumulated 100+ NVDA shares @$120+ and repeatedly sold calls thereafter. Finally it was exercised at $132. I then started selling short term put @$125 strike price. So far I only managed to collect premiums but not the shares at the target price desired.
I am long term bullish for this stock. However I am expecting short term volatility in either direction.
Prior to the earning announcement, I took the following actions:
1. Buy Jan 17 $140 call
2. Sell Nov 22 $160 call
3. Sell Nov 22 $125 put
The premiums for my shorts are lucrative due to the market volatility. My view is, the stock is likely to land in the $145-155 band after the earning annoucement.
Will definitely adjust my strategy based on the actual results after the earning announcement. Wish me luck
Comments
congrats on your gains from Nvidia!!!
Wish you luck and future profits from your calls and puts!