Given the current market conditions and the specific query about a good entry point for Nvidia put options, we should consider the following factors:
- Market Sentiment: The sentiment around Nvidia is bearish, as indicated by the Put/Call Ratio of 0.95, which suggests a higher number of bearish bets relative to bullish bets1. This could be a sign that the options market expects the stock price to fall further.
- Technical Indicators: Nvidia's stock has been under pressure, with a recent sell signal from the short-term Moving Average and a buy signal from the long-term average2. Additionally, the stock is trading below its 50-day moving average, which is a bearish signal3.
- Support Levels: Nvidia has found support at the $109.63 level, which could be a potential entry point if the stock price falls further2. However, if this support level breaks, there is a risk of further declines.
- Volatility: Nvidia has shown high volatility, with a trading interval of +/-$6.41 expected for the upcoming trading day2. This volatility could present opportunities for put options if the stock price swings significantly.
Based on these points, a good entry point for Nvidia put options this evening could be around the $109.63 support level. However, it's important to monitor the stock closely for potential support and resistance levels, as well as any changes in market sentiment or news that could affect the stock price. It's also advisable to consider your risk tolerance and investment strategy before making any options trades.