Palantir To $100? Nvidia Ready To Breakout, My Next Move

In partnership with

Hey Options Trader,

We had quite the recovery today in a lot of individual stocks. Palantir hit the resistance point of $80 and seems to be ready to jump straight to $100. Nvidia getting primed as well.

Here’s what we are covering:

1. Nvidia - Is the breakout about to happen? My new position established.

2. $QQQ and $VIX - big spike in fear, what now?

3. Palantir - The darling child is about to erupt again! My new short term target.

$NVDA - Is the breakout about to happen? My new position.

Nvidia formed great support around $130 during Wednesdays meltdown and now breached past $132 to $134.

I closed 3 cash secured puts that were at $135 for $638 profit so I could readjust down to $130 just in case we see more turbulence into January.

I also established a more aggressive position which was +5 LEAPS call options at the 121 strike 365 days to expiration. I will close these out once we hit $170 to take risk off the table considering I am now $175,000 into this single stock position.

My take is once Jensen Huang speaks at CES 2025 on January 7-10th, the stock will start to fly all the way into earnings February 26th.

I only have 200 out of the 400 shares covered. I will establish new Covered Calls once we breach $150. For now I want maximum gains.

Rare Card Helps Tackle Debt + Double Cash Back For 1st Year

Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. But with this powerful card, you get a 0% intro APR to ease the pressure almost immediately. Plus, you can earn up to 5% cash back that gets doubled at the end of your first year — that means up to 10% cash back. Click through to learn more.

Learn How To Apply Now

$QQQ & $VIX - Big spike in fear, what now?

Since we had the market downturn a lot earlier then expected (originally I planned for this happening beginning of February), I believe this sets us up for a solid January and February mega bull into March.

I rolled up all my covered calls to higher strikes to prep for this.

VIX breached outside of our green box ($17). I now conclude this sets us up for minimal fear going forward as this last shakeout needed to happen.

Weak hands sold, strong hands bought more.

Yes, the fed confirmed that there will most likely be only two interest rate cuts next year as opposed to 4-6, but the economy is still strong overall and we are in a lowering interest rate environment.

$PLTR - My New Short Term Target

Palantir never fails to surprise! They extended their contracts with the US army which helped propel the stock back up to $80. Out of all the wonderful companies that are now in the top 10…every time they traded around $75-$80….$100 was not far away. I think of it as a psychological level for investors to get in before its too late.

I do see us going to $100 after next earnings February 3rd. I sold more cash secured puts to up my position at the $67 and $70 strike. Im comfortable getting assigned at those prices worst case.

My plan is to start taking off the LEAPS positions around $120 - $140 to lock in profits and just run the wheel.

Top 3 LEAPS Im Looking To Buy For 2025

Have A Great Weekend!

-Ryan