To The Moon

This is the last week of the first half of 2024, but option flows suggest a relatively muted first half close, making call sales more suitable.

$NVIDIA Corp(NVDA)$
I was surprised but could understand Nvidia's consolidation from 1pm to the close last Friday - a breakdown may have been disastrous to hold.

However, the needed pullback still needs to play out, so an opening drop on Monday is unsurprising.

Friday's option activity showed a large 33,800 lot sale of the $NVDA 20240628 135 CALL$  for $3.853m in premium.

This implies 135 will be a tough resistance this week.

This every-other-week call selling approach is very familiar, mirroring Tesla's behavior. If we see another large call sale this Friday, it would suggest Nvidia is being tightly controlled like Tesla.

120 should serve as this week's floor, so dips can be sold via 115-120 puts.

$Tesla Motors(TSLA)$
As expected, continue selling the $TSLA 20240628 185 CALL$ .

165-170 remains a solid put selling range on dips.

$Apple(AAPL)$
Apple's pullback also didn't complete last week. On Friday, there was a 30,000 lot buyer of the $AAPL 20240719 210 PUT$  for over $12m in premium.

If long shares, an aggressive sale of the $AAPL 20240628 210 CALL$  is viable as 210 is likely out of reach.

For those willing to get put shares, the 200 strike $AAPL 20240628 200 PUT$  could work.

Some bullish institutional flows:

$Microsoft(MSFT)$
15,000 lot $MSFT 20240719 455 CALL$  buyer for $9.9m - targeting ATM strikes. Given MSFT's recent strength but expected broader consolidation, I prefer selling the $MSFT 20240628 440 PUT$  for a 21% annualized yield.

$Bilibili Inc.(BILI)$
Their new game "Three Kingdoms: Strategizing to Rule" is performing very well. There was an aggressive sale of BILI 20240920 21 PUTS to finance the purchase of BILI 20240920 30 CALLS. Expectations are for BILI to reclaim at least $21 by September. Not too familiar with gaming, so unsure about revenue sustainability.

$Netflix(NFLX)$
Pre-earnings roll from the 510 strikes to 600 in the NFLX 20240920 600 CALLS, suggesting results shouldn't disappoint, or at least not to the downside.