Weekly Wiretap Pick Of The Week NVDA

MAX Trade Potential: 16%

My Trade Plan Details:

• NVDA Feb 21 $140 Calls around $2.80

• Stop: NVDA closes below $132

• Target 1: $143’s gap closure
  
• Target 2: $150s
  
  

My Reasoning:

NVDA is about 10 days out for their next round of earnings (early next week) and I think the momentum will be building as the week goes along. To me this is still the powerhouse of the markets and traders will be looking and betting on huge numbers once again. 

Clearly, my goal will be NOT to be in the trade come earnings (although HOOD was pretty fun!) but to play the build-up into earnings.

Looking at  NVDA you can see we have just under 3% to close the near-term gap but also have about 7% or so to the next chart high in the $149 area and then would turn my attention to the mid $150s if broken.