As I mentioned yesterday, institutions have closed their positions and exited again, closing 141-150 and rolling to next week below 148, hedging at 157.5
Sell $NVDA 20241213 148.0 CALL$
Buy $NVDA 20241213 157.5 CALL$
The worst case is this one - they just rolled yesterday and it went up today, forcing them to cut losses and roll again. They chose a lower strike price than the previous one, opening by selling 145 call and buying 150 call:
Sell $NVDA 20241213 145.0 CALL$
Buy $NVDA 20241213 150.0 CALL$
The upward momentum might slow down after shorts close their positions - worth watching.
$SUPER MICRO COMPUTER INC(SMCI)$
Tuesday's large call option buy orders look suspicious.
Buy $SMCI 20241213 54.0 CALL$ , transaction amount $1.69 million
Not a floor trade, wasn't done by professional traders. Expiration is next week, strike price is super out-of-the-money at delta 0.16. This kind of large order either comes from a fool or from insider information.
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