NVDA BWB

NVDA currently trading @ $526.50

BTO NVDA Dec 11, 530 / 520 / 500 Broken Wing Put Butterfly @ $2.67 credit

No risk to the upside (keep the credit) – downside breakeven $507.

If NVDA starts moving down towards the lower long strike will add a half cover of long Dec 11 / Dec 18, $495 put Calendars. They are currently selling at $3.00. Could add them now and take off later – they have a wide profit window from $470 to $520 and should hold their value rather well during the early days of the trade. The calendars reduce delta and the negative vega allowing me to stay in the trade longer if required.

#BWB