DailyPlay – Closing Trade (NVDA) – August 15, 2024

Closing Trade

• NVDA – 49.% gain: Buy to Close 3 Contracts (or 100% of your Contracts) Sept 20th $104/$90 Put Vertical Spreads @ $2.33 Debit. DailyPlay Portfolio:  By Closing this Contract, we will pay $699. We initially opened these 3 Contracts on Aug 7 @ $4.60 Credit. Our gain, therefore, is $227 per Contract with a total gain of $681.

Investment Rationale

The inflation print this week largely came inline with expectations which cements a rate cut in Sept. Markets are pricing in 25bps of cuts in Sept and markets have reacted positively. As it continues to grind higher we have reached a take profit level on our NVDA trade and we are going to close that out today.