Nvidia (NVDA) Offering Possible 58.73% Return Over the Next 6 Calendar Days

Nvidia’s most recent trend suggests a bullish bias. One trading opportunity on Nvidia is a Bull Put Spread using a strike $205.00 short put and a strike $200.00 long put offers a potential 58.73% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $205.00 by expiration. The full premium credit of $1.85 would be kept by the premium seller. The risk of $3.15 would be incurred if the stock dropped below the $200.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Nvidia is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Nvidia is bullish.

The RSI indicator is at 74.04 level which suggests that the stock is neither overbought nor oversold at this time.

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Analyst Warns Of Timing Issue With Nvidia’s Datacenter Launch, But Remains Bullish
Thu, 07 Nov 2019 17:04:37 +0000
“Importantly, suppliers indicated there were no quarter-end deals, and no push for revenue late in the quarter — historically, suppliers say NVIDIA will typically make quarter-end deals if sales are running below expectations, and the lack of this activity should be taken as an encouraging sign,” Caso and Fairbanks wrote in a note. As a result, Raymond James expects a product launch in the first or second quarter of 2020 instead of the current quarter. At time of publication, Nvidia shares traded up 1.4% at $210.50.

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