$NVDA$
Starting next week, NVIDIA will add Monday and Wednesday weekly expirations. These new intra-week options are perfect for premium sellers to "farm theta." We'll examine them more closely once they launch.
NVIDIA stands at another crossroads. Bearish option activity shows significant divergence regarding downside expectations, reminiscent of early last year. Puts in the 170-180 range can be interpreted as bullish positioning, expecting NVDA to consolidate above 170, betting on continued AI industry expansion—specifically GPU capacity.
The bears targeting levels below 170, even halving the price, have various reasons. On a macro level, there's US-Europe geopolitical friction. From an industry perspective, the view is that Google's Gemini has secured an absolute victory in the foundational AI model race, and growth in the ChatGPT-related ecosystem is slowing, justifying a lower valuation and stock price decline for NVDA.
This doesn't necessarily translate to bullishness for Google-related stocks. In fact, recent large bearish orders on Google, like $GOOGL 20260220 330.0 PUT$ and $GOOGL 20260227 330.0 PUT$ , reflect the same concern—valuation is simply too high.
Given the unclear downside, I think it's prudent to wait on selling puts for now. For selling calls, reference the institutional spread strikes: Sell $NVDA 20260123 190.0 CALL$ , and hedge by buying $NVDA 20260123 195.0 CALL$ .
$TSLA$
Tesla is suitable for selling calls this week. The institutional spread strategy involves selling the 447.5 call $TSLA 20260123 447.5 CALL$ and hedging by buying the 467.5 call $TSLA 20260123 467.5 CALL$ .
$SPY$
The short-term pullback target is 680, with a potential probe down to 670. However, considering the opening bearish order $SPY 20260130 671.0 PUT$ was closed, this week's market pullback might be concluding.
$INTC$
Earnings are this week. The expected range is 45-55. Consider selling the 45 put: $INTC 20260123 45.0 PUT$ .
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