Return of the King

3 juil.

NVDA will break out of this triangular pattern it's made. Forming a bull flag today on the 15m chart that extended into after hours. I also drew a phi-channel over the Daily candle timeframe chart and then checked price action around it's levels on 5, 15, and 30 minute charts.

So while price may dip rapidly, suddenly. I fully expect all of them to get bought. I think selling puts is a great option right now because wouldn't you like to have shares of NVDA? Either you win the trade or you have to buy 100 shares. So I am short 5 put contracts on NVDA at the 120 strike, long 10 calls for December at the 200 Strike with a Jan 25 expiry, and I have resting orders in place on long put calendar spreads with each about a 9/21 dte for when it goes up, and drops and consolidates, as it will do again as it just did.

The plan is to use the profits from puts to buy shares of NVDY.

Accumulate lots of that, and maybe one day I can simply live off the dividends from it when NVDA goes up another 500%.

Hopefully. I believe AI is something that will grow exponentially as is the nature of AI. I believe we are on the event horizon and it will justify its existence at some point in the near future regardless of how expensive it may be. I am also looking to diversify in the crypto/AI/chip space.

8 juil.

Note

I am watching BTC/ETH as their prices have an interest smile kind of curve when it comes to their correlation coefficient with NVDA.

127.50 is the .236 Fib coefficient using fib trend extension from the last swing hi to this last swing lo.

Things seem to be playing out as I have called them. Though, a bit slower than I was expecting, but this I feel is simply lots of profit taking. No one really wants to close out all their long exposure to NVDA yet.

8 juil.

Note

Higher high on that red candle. Refuel for takeoff again at 127.46

9 juil.

Note

Holding a Call Calendar spread on NVDA for 8/2-8/9 at the 130 strike as a hedge against theta and vega.

I expect price to bounce around between 128 and 134 as these are the 50 and 68 fib retracement zones on the last swing. But also because that is how NVDA has been trading. It makes a solid move up, consolidates, makes a quick move down, then another quick move up, repeat. So it seems for now. No one is truly short this stock, anyone shorting it is planning to cover on a quick dip only to reverse.

I believe that. I believe this stocks valuations aren't even close to high enough, I think that AI will develop at a pace that will be unexpectedly fast, and that this stock will continue to justify it's ever growing valuations. I wouldn't be surprised if they were the largest company in the world by a huge margin in a few years.

9 juil.

Note

Current holdings, I was stopped out on my short puts yesterday as VIX rose briefly, no complaints on that.

I closed out half of all my calls yesterday. I am still holding 3 calls, 200 strike for August, 160 strike for July 19. Thinking about putting in a bid on the open for another. Maybe on SPX instead. With NVDA where it is, it may be good day to attempt a 0dte call on SPX. I like to use trailing stops, so as soon as my profit has covered my principle, I set the trail so that the trade is effectively "free" and after that I get whatever the market gives me. Makes for a much less stressful experience.