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Barchart
Barchart
Mark R. Hake, CFA

Shorting Nvidia Puts Still Makes Sense as NVDA Stock Defies Naysayers

NVDA Nvidia Barchart OTM Palo Alto Networks

Nvidia (NVDA) stock keeps rising, frustrating its detractors who say it is overvalued. In early trading on Tuesday, Sept. 5 after the Labor Day weekend, NVDA stock is at $484.80. Meanwhile, short sellers of its out-of-the-money (OTM) put options have been making out and this play still looks profitable.

A week ago we pointed out this strategy in our Aug. 27 Barchart article, “Short Sellers of Nvidia Put Options Are Making Huge Profits.” At the time NVDA stock was at $460.18 per share and we wrote that the stock was undervalued (more on that below).

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