Below we have some of the most popular bitcoin ETFs. IBIT currently has the highest average volumes. GBTC, which used to be the most popular, has seen a decline in its market share -- that 1.50% Fee is high.
* IBIT, FBTC, ARKB, BITB, BTCO, BRRR, and BTCW are seeking temporary SEC waiver for part or all of the management fee.
NVDA Earnings
Earnings are this Wednesday!
NVDA has earnings on Wednesday. IV Rank is high at 98%.
Below we look at the historical movements for NVDA around earnings. Historically it has had a large range -- a standard deviation of +/- 8.6%. This means that historically, 68% of the time (or 1-standard deviation) NVDA prices have fallen within 8.6% of the previous day's (pre-earnings) price.
Here, we examine the significance of NVDA's position within various ETFs. It's important to highlight that fluctuations in NVDA's stock price will significantly affect SMH, as NVDA makes up almost 25% of this index.
Below we have the expected moves of each ETF based on the expected price ranges of NVDA.
Two Trade Ideas
NVDA Iron Condor (FEB 23 Weekly)
Is NVDA the new TSLA? Realized volatility has been to the upside in the semi conductor space over the last year lead by NVDA. Current volatility is pricing in an over +/- 10% move in the stock price through the end of the week, which is larger than the standard deviation of past earnings moves. If you think it's time for a breather, the February 23rd weekly 600/590 short put spread with the 800/810 call spread has the short options right around 1 standard deviation and trades at $2.88 into the end of the week.
Earnings on Wednesday!
ARM Put Diagonal (APR/MAR)
ARM has participated in the everything semi's rally - on the back of strong earnings and low float. It's lost some steam lately, maybe this squeeze is coming to an end. If you think so - the put diagonal long the 100 APR put with a short 90 put in MAR provides some positive theta in the short term and some short delta to play into a down move.
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