A new call trade in Nvidia has been started. The Aug 2 $185 call option has been purchased for $0.65 before fees. The expectation is to see the call reach $5.00. Stop pricing has been instituted. Some reasons for the trade are below.
- Trade relaxation between US and China pertaining to chips
- Earnings coming up
- Companies relating to blockchain and cryptocurrency are getting more attention.
- Possible W pattern forming in the daily chart
- Pivot point at 165 with R1 at 194 at the 3 month level
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