Nvidia Rebounds More, Are We Going To $180? Palantir all time highs...

Hey Options Trader,

The Christmas Rally continues into the week. Nvidia seems to have strong footing at the $132 level as we rallied to $139 this morning. Palantir flirts with all time highs once more. VIX has major contraction.

Here’s What We Are Covering:

1. $QQQ Rebound And VIX Contraction - Should we double down?

2. Nvidia is about to break out past $141…is it too late to buy?

3. Palantir All Time Highs - New Strategy!

$QQQ Rebound And VIX Contraction - Should We Double Down?

$QQQ built strong support at $509. If I were looking to enter a position on the index with lower risk, the $508 cash secured puts would be good risk to reward. Also adding a LEAPS call option at todays price wouldn’t be a bad move either if you want to get in before our next leg up.

With $VIX (the fear index) contracting to $17 towards that $10-$15 range of no fear and huge rally in the overall markets, I believe right now would be the best time to establish new positions going into January. Volatility is still rich enough in individual stocks so premiums are good. January premiums won’t be as rich due to fear subsiding (not good for options sellers).

My overall thesis is that by February $QQQ will hit $550 before another pullback in mid Feb early March.

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Nvidia is about to breakout past $141! Is it too late to buy?

What a setup on Nvidia! I called this one last week, when we dipped down to $127. Right now is a perfect range to load up on cash secured puts ($130-$135 safer play) and LEAPS ($125 strike).

Once this thing breaks past $141, I believe you are going to be a little late to the party. I would stay away from LEAPS at that point and just stick with cash secured puts below the $140 strike.

I own 400 shares, 5 LEAPS 121 strike, and 9 Cash Secured Puts 130’s, 131’s, 136’s and 138’s.

My prediction is we will hit $160-$180 by Feb 26th during their next earnings report.

Palantir All Time Highs - New Strategy!

Palantir made new all time highs today past $81. It seems to be trying to form support at that level.

If you are already established with shares or LEAPS. I would just hold tight. If you are looking to get in at this point….

Cash secured puts on any down day with a strike no higher than $75.

Im currently running the wheel alongside my LEAPS. I sold the $70 puts.

I also decided not to cover any of my LEAPS as this stock is way to explosive and I plan on scaling out slowly once we hit $120 next year.

How I Made $9,132/Week In November

Happy Monday!

-Ryan