Weekly: NVDA meets the iceberg

Tech wreck spoils my week. I am down a modest 0.7% or so. Not the end of the world, but not pleasant. Some nimble traders played both ends and did well. As readers know, I tend to be a relatively slow moving trader that tends to balance back towards delta neutral. That wasn’t a good idea this week, and I lost a few sheckels.

Here are the trades (p=puts, c=calls, number near end is price per contract, sell means sell-to-open, cover means buy-to-close)

Mon Sell FB DecW4 167.5 p 21
Sell PANW Dec 170 c 12

Sell SPY DecW5 248 p 49
Sell QQQ DecW5 147 p 35

Tue Sell IWM DecW4 144p 32
Sell ROKU Dec 70 c 15

Sell DE DecW5 140 p 44
Sell BABA Dec 170 p 48

Sell NFLX Dec 180 p 24
Sell NVDA Dec 187.5 p 31

Sell NVDA Dec 230 c 46

Wed Nvidia hits an iceberg, down over 10% from its highs. I quickly reduce my delta. My account loses about 1.5% today. Yikes.

Sell NVDA shares half position 194.60 for 20% gain
Sell NVDA Dec 220 c 45

Sell NVDA Dec 227.5 c 71
Sell BABA Dec 200 c 55

Sell NFLX Dec 205 c 47

Thu Sell PANW Dec 160 c 19
Broad market rebounds, with new highs on the DJIA. I recovery about 40% of Wednesday’s losses.

Friday means another sell off and I finish the week in the red. Down about 0.7% in my trading account.