Current Trade Adjustments.
LRCX – Shorted 10 May 150/155 bear call spread for $.85/share. Stop Loss: None for now; however, as an Adjusting Strategies since it is remaining too strong, over $151.50, we recommend shorting 10 May 150/145 bull put spread at mid-point (closed at $1.13/share) to convert into an Iron Fly and generate additional time decay.
NVDA -Shorted 10 May 117/130 bear call spread for $.62/share. Gapped over stop. Over 30-Min high, roll the May 117 short call to the Jun 120 call for mid-point (currently a $.45/share credit) to give us more time and breathing room. And over high also sell the May 130 long call for mid-point (currently $.33/share).
Happy trading! If you have any questions or comments, please e-mail Greg Capra at Greg@mastertrader.com or Dan Gibby at Dan@mastertrader.com
All the best,
Greg Capra
Managing Director and Pristine Founder
Dan Gibby
Chief Options Strategist
Follow Greg on Twitter, Youtube, and StockTwits to get real-time updates and education:
Twitter: @GregCapra
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