To The Moon

Previously:

Nvidia earnings preview: Break or the beginning of a big sideways?

The $200 million options trader used all his profits to keep buying Nvidia

$200 million bro is rolling again, this time $600 million

One guy started to sell Nvidia call options in mid-March, and because the first roll position (closing an existing contract and opening a new one at the same time) sold 200 million in March, I called it 200 million brother. After that, our 200 million brother will roll every important node, and the roll and roll will become 800 million, and the Q1 income of this brother is simply calculated by the ratio of (6.78+1.5) ➗1.45=571%.

And then on Tuesday, the last week of Q1, 200 million bro went on the roll for the fourth time:

close $NVDA 20240621 820.0 CALL$ 

roll $NVDA 20240621 880.0 CALL$ 

This time, the roll of 200 million bro has once again left itself a little way out. The volume of roll was the same, both 37,700 lots, but 678 million closed positions rolled only 543 million, quietly leaving 150 million. So far 200 million brother has 300 million cash in hand.

So does it mean that 200 million bro is not so confident about this financial report?

Given that the biggest risk for an option buyer is zero to expiration, I don't think anyone would want to take the maximum risk of $543 million to zero in 1 month, right? Even if this 500 million is profit, can profit be squandered at will? I don't think so.

It is worth noting that this decision is very similar to the first roll of 200 million bro, which is a month after roll, the same maturity date, and the same reduction in turnover:

Maybe 200 million bro gambling habit is such.

In addition, it is worth mentioning that META also has a 200 million bro roll position, which is also a bet on Q2 earnings, and is also bullish:

close $META 20240517 440.0 CALL$  ，roll $META 20240517 465.0 CALL$ 

So don't ask if it's too late to buy US stocks. It's never too late.