I think this is a tricky trade, but if 
NVDA sneezes then 
AMD may get the flu. AMD's chips are not as great as NVDA's but they do the job. AMD has been highly correlated to NVDA and it seems like if NVDA tests $800-$780s then AMD could tank into the $180s with relative ease. Now, it seems to be caught in this downtrend and probably in the next couple of weeks, to be safe, $180 puts could print. Trade safe, always hedge, don't oversize.
NVDA sneezes then AMD may get the flu. AMD's chips are not as great as NVDA's but they do the job. AMD has been highly correlated to NVDA and it seems like if NVDA tests $800-$780s then AMD could tank into the $180s with relative ease. Now, it seems to be caught in this downtrend and probably in the next couple of weeks, to be safe, $180 puts could print. Trade safe, always hedge, don't oversize.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.