Nvidia Bears Get Wiped Out
Tim Knight | May 25, 2023 01:04AM ET
A moment of silence, please, for anyone short NVIDIA (NASDAQ:NVDA) (or, God help them, in a naked options position).
As I have implied, I have no position at all in the company, except my SMH puts (September $140, on which I took partial profits today). So, yeah, those are going to get smacked in the nose, but I can deal with it.
What’s interesting is that this one company has unwound ALL of today’s loss and part of yesterday’s as well in a stroke on the /NQ.
I’ll be the first to admit I was hoping for some kind of shocking wipeout, but success clearly breeds success. The bulls just got yet another lease on life.
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