[Entering Put Position in Nvidia (NVDA)]
Dear Member:
Nvidia (NVDA)has broken below the 40 day moving average on increasing volume. DMI has crossed into negative territory and stochastics have turned down. I am placing an order to buy the June 35 puts (UVARG) at a limit of $5.60. The stock is currently trading just below $32.70. My order is half way between the bid and the ask so it may not get filled, but I think it is worth a shot and a 20 cent spread is pretty wide.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
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