Opening a position in a new underlying today.

music selection:  (In Memory) “Purple Rain” — Prince

NVIDIA corporation is a making of semiconductor chips.  They are well position for the upcoming Internet of Everything trend as they produce the smallest and most energy efficient chips.  This will be important for wearable computing and other applications.

I sold NVDA160527P00033000 for 56 cents a share.  That comes out to 17.21% annualized over 36 days.  The trade enjoys 11.44% downside protection.  Assignment would result in a 1.39% dividend yield on cost.   There is deep liquidity in the options so writing covered calls against an assigned position is assured.

In other news, AAPL, MSFT, and QCOM all expire out of the money for me today.  I’ll be rolling the positions forward next week.

Devour your prey raptors!

 

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