$TQQQ STRANGLE 240223 CALL 62.5/PUT 48.5$ With the recent slightly hotter than expected inflation data, the market took a dive and recovered slightly before the close, I am expecting the market to be ranged bound for awhile with other economic data this week. Opened a few strangle contract on $Nasdaq100 Bull 3X ETF(TQQQ)$ expiring next week to earn premium or acquire/sell some at an attractive price. [Cool]
$NVIDIA Corp(NVDA)$ NVDIA is a long term hold for me. My target price is about $1200. Their earnings shown a growth of about 8%. However, Nvidia is making a China Complaint chip for the China Market that is said to launch this year, I can only see more growth ahead unless there's a change in future news. I will continue to sell calls and puts to optimise RoR. Their graphics and data center side still strong as usual. I was expecting a +-15% change after earnings report and its currently up 8% after market, It's a good report and I'll get to keep the premiums from my strangle. Wouldn't mind buying more at 545 or selling at 940 (highly unlikely by this week). $NVDA STRANGLE 240223 PUT 545.0/CALL 940.
$ServiceNow(NOW)$ First software position after the saspocalypse, not sure when it's gonna end but this name is looking real attractive. Fundamentals and technicals are both in line. Will slowly build up position. Many think AI would take over. However, from what I see, most companies would not self run AI, they would subscribe/pay a company to run/integrate AI into their workflow and servicenow seems to be in the right spot. Just a thought. Companies will always need someone to blame when something happens, they will not run their own AI, especially healthcare.
$Micron Technology(MU)$ With the uncertainty in geopolitics raising and oil pushing up once again and overall market in what I would consider as "overextended" range. I have decided to trim my position in MU to reduce risk, leaving the core position to continue running if it raises and buy back in if it falls.
$NVIDIA(NVDA)$ Add a little more to my position for the long run, Forward PE and other technicals shows it could double, but doubling the market cap to 10T would be crazy. Let's see how it goes and watch for any signs of reversal due to lack of AI ROIs etc.
$NVIDIA Corp(NVDA)$ $NVIDIA Corp(NVDA)$ Have always believed in NVDA since my gaming days and when GPUs were used to mine cryptocurrrencies. Now it's onto A.I. I still believe that this is just the beginning of what NVDA has to offer and will play an important part in whatever is ahead in the tech space. A recent article showed NVDA would be partering with Cisco to improve cybersecurity using AI, this should further improve their data center business. Apart from these, NVDAs reports are showing good growth and numbers to support it. However, I feel it is definitely overextended and due for a correction or range bound. I'll just continue to hold here and sell some calls.