Right at the close I sold 10 Nvidia (NVDA) Puts. With the stock at $545, down $37, I sold 10 contracts of the NVDA 11/13/20 $520 Puts for a premium of $3 for $3000. I was thinking of buying the stock at $540 if it got down to that point than I decided to buy the Put. If the stock get down to $520 the 1000 shares will be sold to me. This is such a great stock and I feel like I’m getting paid to buy it.
Sell to Open 10 NVDA 11/13/20 $520.00 P @ $3.00 (+$3000)
I’ll watch it closely tomorrow. If it gets put to me I’ll sell a Call before the end of the week. The only downside is if the stock continues to tank. EX: It gets put to me at $520 and it continues down to $500. If that happens there’s no other stock I’d like it done with!
Successful trading,
Steve
The Options Coach