On September 19, I began tracking $NVDA with a watchful eye, signaling my attention to the stock as it hovered around a key level. At 10:35 AM, I posted that I was watching the $120C options contract, anticipating potential movement. Shortly after, I announced my entry, purchasing the 20SEP24 120C at $0.94, with a half-size position to manage risk effectively.
As part of my strategy, I shared the key levels I was working with: a stop at around $117, an add point at $117.7, and three profit targets at $119.47, $119.96, and $120.79. This provided clear guidance on where I planned to scale into the trade and capture profits if the stock moved in my favor.
As $NVDA began to climb, I followed my plan, scaling out gradually along the way. At 11:07 AM, I trimmed part of my position at $1.05, securing profits while continuing to manage risk. Over the next several minutes, I trimmed further at $1.10, $1.15, and $1.25, ensuring I locked in gains while leaving some runners in place to capitalize on additional upside potential.
In the end, it was a well-executed trade that followed the initial plan, with a stop in place to protect against downside risk and targets set to capture profits as $NVDA moved upward.
Disclosure: All trades carry risk, and past performance does not guarantee future results. This is not financial advice; please manage your trades based on your own risk tolerance and trading strategy.