Little rally to trap everyone? Then were caught holding the bag?
Updated
10-11 expiration for NVDA has way to much open interest at 120 - 130 levels. 118 looks more realistic.
I think we can see a climb to 120-130 early in the week and a huge sell off to 118 to end the week.
If this happens, it opens the door to max pain of 112 - 113 by 10/18.
There are going to be so many traps this months and I think were all in the middle of one now.
Inversely, my theory above could be a trap as well haha. If this is truly a blow off top, $149 -$150 is my absolute peak.
I think we can see a climb to 120-130 early in the week and a huge sell off to 118 to end the week.
If this happens, it opens the door to max pain of 112 - 113 by 10/18.
There are going to be so many traps this months and I think were all in the middle of one now.
Inversely, my theory above could be a trap as well haha. If this is truly a blow off top, $149 -$150 is my absolute peak.
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I AM LOADING UP ON PUTS
Expiring: 10-11
Strike Prices: $131, $130 and $129
See you tomorrow after PPI ;)
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Unless we gap up crazy or receive heavy good news, I see red for next week to my levels in orange above :)
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