$SUPER MICRO COMPUTER INC(SMCI)$
Sold a naked put on SCMI in early market trade, SMCI tanked over 25% after announcing that they will be delaying their annual earnings report. The share price dip to a low of $405 finding support on a very significant trend line form since July 2022. Expecting the share price to find support and reverse back up or maybe hover around for a while before finding its new direction.
The share price did just that, bounces off this trend line and has since gotten back up to -19%. Decided to take profit, keeping almost 65% of the premium collected before NVDA’s earnings.
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