NVIDIA Corporation (NASDAQ:NVDA) has rocketed to a record high this week, with its market capitalization rising to $3.19 trillion, putting it just behind Microsoft and Apple.

Continuing to rise following its recent stock split, Nvidia has bolted past the 120 mark, putting it on pace for a seventh straight weekly gain.

This set the scene for Weekly Options USA Members to profit by 45% using a NVDA Weekly Options trade!

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Thursday, June 13, 2024

by Ian Harvey

UPDATE

NVIDIA Corporation (NASDAQ:NVDA) has rocketed to a record high this week, with its market capitalization rising to $3.19 trillion, putting it just behind Microsoft and Apple.

Continuing to rise following its recent stock split, Nvidia has bolted past the 120 mark, putting it on pace for a seventh straight weekly gain.

Shares of NVDA stock have been driving a significant portion of the returns of the overall market for some time now. That’s unlikely to change anytime soon.

The artificial intelligence (AI) catalysts driving Nvidia to new all-time highs seemingly on a daily basis are in full flight. In fact, NVDA stock made another all-time high today, surging more than 3% this afternoon ahead of a key upcoming event.

On June 26, the company will host its annual meeting. The company just released its annual review and proxy statement, which many are parsing through right now.

The NVDA Weekly Options Potential Profit Explained.....

** OPTION TRADE: Buy NVDA JUL 262024 125.000 CALLS - price at last close was $5.70 - adjust accordingly.

Obviously the results will vary from trader to trader depending on entry cost and exit price that was undertaken.

Entered the NVDA Weekly Options (CALL) Trade on Wednesday, June 12, 2024 for $7.35.

Sold half the NVDA Weekly options contracts on Thursday, June 13, 2024 for $10.62; a potential profit of45%.

(This result will vary for members depending on their entry and exit strategies).

Holding the remaining NVDA Weekly options contracts for further profit!

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Why the NVIDIA Weekly Options Trade was Originally Executed!

Trade Analysis

NVIDIA Corporation (NASDAQ: NVDA) continues to dominate the AI chip market. With a pioneering role in AI technology, NVIDIA's chips are integral not just for its own growth but also for the advancement of the entire AI sector.

Current Situation

NVIDIA has seen its stock price surge from a split-adjusted $15 to nearly $121 recently, becoming the second most valuable company globally, surpassing Apple. The company's strategic direction in AI and its recent 10-for-1 stock split have made its shares more accessible to a broader base of investors, potentially increasing trading momentum.

Key Insights from Earnings Call

During the latest earnings call, NVIDIA reported exceptional quarterly results, with significant contributions from its robust AI and computing segments. The company's forward-looking statements suggest continued leadership in high-performance AI technologies.

Catalysts for the Trade

NVIDIA's recent earnings were a testament to its strength, with a 262% year-over-year increase in revenue and a substantial jump in its data center business. The company's guidance for the upcoming quarters remains strong, reflecting sustained demand for its AI and computing solutions.

Further Catalysts for the Trade

Revenue Growth and Market Expansion

NVIDIA continues to expand its market reach, driving up its data center revenue by 427% year-over-year, now constituting the majority of its total revenue. This segment's growth is crucial as it supports the company's valuation and stock performance.

Earnings Performance and Market Expectations

With another impressive quarter, NVIDIA has set high expectations for future performance, with projected revenues indicating continued growth. This positions NVIDIA well within the technology sector, especially in AI and computing.

Analyst Reactions

Following NVIDIA's earnings release, several analysts have revised their price targets upwards, reflecting confidence in NVIDIA's ongoing growth trajectory and its ability to maintain a leadership position in the AI market.

Company Overview

Founded in 1993, NVIDIA started as a graphics chip company and has grown into a multifaceted tech giant. Its products now span multiple sectors including gaming, professional visualization, data centers, and automotive markets.

Technical Analysis

• Market capitalization: $297.44 billion.
• PE ratio: 7.07.
• Beta: 1.69.
• 52-week low: $38.62.
• 52-week high: $195.95.
• Fifty-day simple moving average: $95.35.
• Two-hundred-day simple moving average: $76.32.

Capitalizing on NVIDIA

This trade aims to capitalize on NVIDIA's continued dominance and growth in the AI sector. The company's robust earnings performance and strategic market expansions serve as strong catalysts for this option trade.

Therefore…..

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FINALLY.....

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