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NVIDIA

NVDA Rangebound and potential Mean Reversion

By punitarani
Updated
Nvidia has been trading relatively flatly in between a range of 470-590 for the last 6 months. Bounced above support on Friday, if it holds the level we can see a bounce up to mean volume-price of 535, an 8% move. Neutral-Slightly Bullish.

Trade Ideas:
  • [* ]Shares: Long b/w 465-500 for 535, 575 and 590+. Short below 460.
  • Sell Covered 560 Calls expiring 4/16 for $9.00 Credit, 17% POP with a BE of 569.
  • Short 390 Put expiring 4/16 for $3.15 Credit. 90% POP with a BE of 386.85.
  • 400-580 Strangle expiring 4/16 for $9.5 Credit. 80% POP and $4800 BPE
Trade active
Got in shares at $476. SL below $456.
Trade active
Took some profits at 525.5
Trade active
Take some more profits at 577
Beyond Technical AnalysisTrend Analysis
punitarani

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