At the close on Friday, with Nvidia moving down, I bought 5 GRANITESHARES NVDA LNG DAILY ETF (NVDL). I bought 5 NVDL 6/7/24 $57 Calls @ $3.20. I felt that Nvidia was going to open moving up this morning; and it did. Nvidia opened up about $35 and continues up as I write. NVDL is a very dangerous play so when I saw a profit at the open I jumped out. Plus this Long option will expire this Friday. NVDL was moving up with NVDA so I put in an order to sell my 5 Calls at $5.20. As soon as I placed the order it was filled. It was a great way to start the week. This is a $1000 profit.
5/31/24 – Buy to Open 5 NVDL 6/7/24 $57.00 C @ $3.20
6/3/24 – Sell to Close 5 NVDL 6/7/24 $57.00 C @ $5.20
Profit +$1000
When you buy an option with a vehicle like NVDL you get out when you have a profit. NVDL might move higher today but I don’t care. I locked in $1000 and I moved on.
I still own 3 NVDA Call which I might hold through the split this coming Friday. We’ll see!
Successful trading,
Steve
The Options Coach