Derivatives
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- Sold NVDA and TDW calls
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As if the past few days of $1000+ losses weren’t bad enough for me, NVDA took a nose dive pre-market today and never recovered. It closed the shortened trading day down 30%. They took a major charge for a production glitch and piled it on by lowering quarterly sales forecast.
I am sitting on four August 17.50 naked puts which, in all likelihood, means I’ll own 400 shares on or before August options expiration. Not seeing a chance for a near-term rally in NVDA I sold naked calls to try to lesson my loss. As my experience with NVDA went last time around, I’ll be chasing this profit for a while before exiting. While NVDA was trading at 12.66 I s…
Original Source: feeds.feedburner.com
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3 July, 2008| Derivatives |
@ 11:01