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Nvidia And Last Day Friday Afternoon Option Trading

First, the five day chart on Nvidia. Look at the volumes of option trading in these Calls and Puts at noon on Friday. These options expire today. Now here is how the DJIA is doing at 12:01 p.m. Look at the huge number of Call options traded this morning. With markets up and the DJIA down what would logic tell us to do? Buy the Puts. Look at these two Put printouts on Puts that expire today. Look at how cheap the "out-of-the-money" Puts are. Experienced option traders know that the risks in buying these is high, to high to take serious. What's more inticing are the "in-the-money" Puts. In this case they are the 167.50 Puts. Let's now look at it's current one day chart at 12:15 p.m. Had you looked at the 167.50 Puts around 10:40 a.m. they were half the price they are now. Sure it's all somewhat of a guessing game however I want to point out than with one day options the timing of inflection points, meaning stocks making reversals on the day usual...
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Sundial and the Lazy Way To Play The Markets

In a blog of May 8th I talked about the bizarre number of shares outstanding in Sundial. It has 2.4 billion shares outstanding and the company is sitting on over one billion dollars in cash. Thats crazy for a penny stock. Back in late 2020 it was a meme stock and traded upwards of three billion shares per day! Now its a stock some traders use when the markets are extremely oversold and bounce 500 points on an opening like it did this morning.
Look at this mornings action.
Over 33 million shares trade by 10:49 a.m. in the morning. A $30,000 investment on Friday would be worth $34,000 this morning. It may sound like a crazy way to try and make money however the liquidity is there. As for options on this stock there are some however they start with a striking price of $.50 cents and then $1.00 and $1.50. What that means is that many of these series are to far "out-of-the-money" to be playing. Once again, this is a playable stock in extreme oversold positions like we witnessed today. Yet playable in simply purchasing the stock and now the options on it. Stocks in this price range often stay dormant for years. Read my May 8th blog. Having a legacy of being a meme stock helps to give this stock an unusual status.

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