I continue to play Nvidia (NVDA), trying to make as much money as I can as a result of their 10:1 stock split announcement. Yesterday I reported that I bought a 3 contract Call. Today is a negative day but I was able to lock in some money. Yesterday I bought 3 NVDA 6/14/24 $1140 Calls for a premium of $50. Today, with the stock up and down, I just sold 2 of these Calls for $55 locking in $1000.
Sold 2 of my 3 Calls
Buy to Open 3 NVDA 6/14/24 $1140.00 C @ $50.00
Sell to Open 2 NVDA 6/14/24 $1140.00 C @ $55.00
Profit $1000
I kept 1 of the Calls in case the stock continues up.
If the stock goes down again I’ll buy the 2 Calls again to give me 3.
If the stock continues up I’ll make more money with that 1 remaining Call, and maybe sell it before the close.
I love making $1000 in a day!
Any questions send me an email.
Successful trading,
Steve
The Options Coach
Any advice on the 6/24 AMD Calls we bought in March? Hold and hope for the best?
AMD came out with great earnings at the end of January. The stock moved up right into March. Any options bought in the 1st week of March, I’m sorry to say, will be a loser. For some reason the stock moved down into its next earnings, even after great earnings in January. Not common! If you bought in late March It still has a chance. It’s unbelievable how this great stock took a 50-60 point drop. My positions are gone. I got out and stopped watching because I lost faith in this great stock. When buying option, if its first move is down you should get out. Buying options is a very dangerous game. Good luck!
Steve
Thanks for the reply back. Yes Options are a dangerous but fun game. Losses happen, but you never know AMD still has a chance to cut some of those Losses.
Thanks again I look forward to your commentary
Good for you, Coach!