The chip sector is rallying after the House approved a $280 billion bill focused on domestic semiconductor manufacturing.
Let’s book profits on our NVIDIA (NVDA) put, earning a 52% annualized rate of return.
Current Stock Price: $187.26
Cash in Hand: $1.79
Action: Buy to close the NVDA Aug Week Two (8/12) 160 Put for around $0.65, but adjust as needed to close today
Profit: $1.14, or $114 per contract