Option Purchase to Open UVART

This morning (after the opening bell) we purchased June $26.25 put options on NVidia Corp (NVDA) for $1.10. Thursday of last week Nvidia released positive Q1 earnings, but received negative prospects of future growth by analysts. 3 red arrows, mediocre fundamentals and more than double sell-off volume indicates institutional selling. The question is how many institutions are bearish on this stock.

The VIX hit a 3-month high this morning, which is a mixed signal here. The news is also mixed. If there is no significant downward movement this week, we may sell.


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