$95 Marks the Spot for NVDA

In Jeff Cooper's Daily Market Report, we have a long position in NVDA June $90 puts.

This morning, NVDA is set to challenge the double-bottom at $95 from late February/early March.

The market is closed tomorrow so this puts the $95 strike on the radar today.

One would think that the bulls will try to circle the wagons and protect the $95 strike and the prior swing lows.

But we are going into a long weekend with geo-political tensions rising rapidly.

If the $95 strike snaps with authority, NVDA could accelerate toward the $81 objective I outlined on April 5, which ties to a date with its 200 day.

99.999% of traders have never even seen the Square of 9... let alone understand its potential.

Do you dare to be different?

Jim Bob says April 13, 2017

“Position in nvda puts” is long or short? From the context, I’ll guess long. For the expiry, I’ll guess May

Michael Comeau says April 13, 2017

Article updated to reflect Jeff’s options position.

99.999% of traders have never even seen the Square of 9... let alone understand its potential.

Do you dare to be different?