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Barchart
Barchart
Mark R. Hake, CFA

Nvidia Stock Is Off Its Highs but Has Huge Upside - Ideal for Option Put Short Sellers

Nvidia NVDA Barchart

Nvidia (NVDA) stock has dropped from its recent high of $504.09 on Nov. 20 after its blowout Q3 results. At $475.06, its close on Friday, Dec. 8, NVDA stock is just above its average trading range. This is ideal for put option short sellers who follow this strategy as an income play.

I discussed Nvidia's huge potential upside in my recent Barchart article on Nov. 26, “Nvidia's Blowout Quarterly Results Imply NVDA Stock Could Be Worth Over $700 Per Share.” It led me to the conclusion that NVDA stock could reach over $730 per share in the next year.

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