$140k NVDA Puts – The Gayest of Bears

    https://i.redd.it/cb2ltnpv309d1.png

    Posted by psytokine_storm

    26 Comments

    1. psytokine_storm on

      Shit’s going down. We had a blow off top on June 20. Quite a violent dump, and now we’re into some consolidation before dumping heavy in July. I expect a slow bleed with some rangebound for another week or two, followed by a major retrace to $95.

      Will sell these for $20 each. Depending on when we dump, I may be able to get out when spot price is as high as $105. $115 was tested this week already. I don’t expect it to hold next time.

      I’ll cut losses if we rise above $132 at any point. If this is going to happen, I expect it to be within the next 2 weeks, which should only cause me to have a 30% loss. I’ll also sell if we’re above $120 2 weeks from now.

    2. Man to risk this much in a market that wants AI is insane. Best of luck to you. I’ll lose on my calls if it means you won’t be at the Wendy’s dumpster.

    3. Beginning_Sentence69 on

      Way too much capital riding on those puts.

      Is this a full port or what?

    4. You do understand that June 20 and June 21 was because of opex right? This is more likely going up than down.

    5. I’m going to personally wait to see if it tests 132 again and try to grab some puts there, but I think you got the right idea

    6. Comfortable-Tea1177 on

      Bro this doesn’t make sense . You realize you can go in the money but there could easily be a correction and this thing can run up at a notice like it did in May. 140k is insane. NVDA has no bad news. 0. Only way to play this is into the earnings. Any mention of a slowdown of exponential growth would trigger a drop

      Also these contracts were 5.60 just a week ago. Be careful OP , I’ve lost 70k past month speaking from experience

    7. Dude I woulda waited until friday at least… if PCE is good every mag stock will pump.

      Good luck mr bear.

    8. You saw that last candle right? RIGHT? ![img](emote|t5_2th52|4267)![img](emote|t5_2th52|4271)

    9. GMEtothemoon on

      I could understand short term shorting Nvidia but you got an October exp date OTM put. Don’t think this will end very well

    10. unknownnoname2424 on

      since this regard has posted his put yolo up here for everyone to see all other regards can backup the trucks for calls and stocks. this regard is going to loose big time if he holds closer to expiry . if he folds early he might get some back.

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