Investors who bet against Nvidia (NASDAQ:) are likely regretting their decision after the stock’s recent surge. Short sellers and those holding naked options positions have taken a major hit.
Although I don’t hold any position in the company, except for puts (September $140), which I partially sold today, my investments are still going to be affected.
It’s interesting to note that Nvidia has reversed today’s losses and even recovered from some of yesterday’s declines in a single move on the /NQ.
Although I was hoping for a surprise downturn, the company’s continued success has resulted in the opposite. The bulls now have another opportunity to drive the stock higher.