Selling both our AMD & NVDA Call positions.
Computer chip stocks are moving lower as the market continues to punish growth and technology stocks.
Even though both of these names are trading at reasonable valuations compared to expected earnings, fear is creeping back into Wall Street and support levels are being broken.
I’d prefer to close out these positions for now and keep watching for a chance to buy when the market tone is improving.
Meanwhile, our bearish positions are helping to add a bit of balance to the portfolio, offsetting some of the losses from our bullish plays.
- Selling (to close) our AMD July 15th $80 Calls.
- Limit $2.40 or more.
~~~~~ - 12:32 Executed
- Sold AMD Jul 15th $80 Calls @ $2.42
ALSO
- Selling (to close) our NVDA July 15th $150 Calls.
- Limit $9.50 or more.
~~~~~~~ - 12:32 Executed
- Sold NVDA Jul 15th $150 Calls @ $9.72