Nvidia, Inc. (NVDA) produced impressive fiscal Q2 revenue and earnings, but its free cash flow (FCF) and FCF margins were lower than in Q1. NVDA may be stuck in a trading range, despite analysts' higher price targets. As a result, shorting out-of-the-money (OTM) puts might be the best play here.
NVDA fell on Friday, Aug. 28, to $217.55. That's only slightly higher than before it released its results on Aug. 26 ($213.05 on Aug. 25).