I think that NVDA has a lengthy period of basing here ahead of itself. $12 is probably the max it will see on a ramp for at least few weeks. If I had it, I would dump it here at $10 and if you still like it, buy 25% more with the same money on the next visit to $8, which I think should occur in the next three months.
RE NVDA I posted to Zeev about 2 weeks ago what he thought about bottom for NVDA. I didn't get a reply so I guess he didn't feel positive or negative about it so I jumped in long since rest of market looked like poised to going up. I wrote SEP 10 PUTs for $2.30 when it hit $8 and change. Now I am in similar boat as you looking for local top to sell SEP 10 Calls for at least $2 so I have no worries from stock price of $6 to $14. Agree with Zeev that it is very limited on up side. You should be be able to earn almost 10% per month on call premiums if this sucker can hold $10 as dead money stock. Somehow I feel that S&P stock down 80% for the last 12 months is ideal stock to take tax writeoff if needed. Selling will be accentuated for next 4 months of year.
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