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 [Miser]
Comments
congrats on your gains from Nvidia!!!
Wish you luck and future profits from your calls and puts!