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Earnings Watch: NVDA & SHOP Options Plays

By:Michael "Dr. Data" Rechenthin

Plus, a look at bigger-name volatility indices and a roundup of weekly movers

Below are some of the bigger-name CBOE Volatility Indices. These symbols can be used on the tastytrade platform.

Crude (/CL) traders tend to like looking at the OVX:CGI volatility index, while euro currency traders prefer the EVZ:CGI volatility index.



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Investors can enter the above symbols into the tastytrade platform (with the :CGI).


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Weekly Movers

Moderna (MRNA), Salesforce (CRM), Netflix (NFLX), Lululemon Athletica (LULU) and Crowdstrike (CRWD) post positive seven-day returns.


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Nvidia (NVDA), of course, is on the list.



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Earnings Watch

Starbucks (SBUX) released earnings yesterday. Tesla (TSLA), META (META) and IBM (IBM) release earnings today.



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Two Trade Ideas

NVDA ($120) Iron Condor (FEB) $2.66

There was a $500 billion dollar (maybe more!) haircut in market cap overnight. I guess it's the death of semiconductors. But if you think reports of their demise might be a bit overblown, and want to capitalize on the spike in volatility, an iron condor in FEB is an interesting setup. Selling the 110/100 put spread and the 137/147 call spread leans slightly long delta for a $2.66 credit.


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SHOP ($115) Calendarize Ratio AKA Crab Trade (MAR/FEB) $0.76 debit

Shopify has nearly doubled since this time last year, and it is currently near 52-week highs. Its earnings are coming up on Feb. 11. If you think the upside might be muted, an upside CRAB trade provides an interesting inside/up payoff with very little risk to the downside. Go long the 125 call in MAR for some positive gamma; and selling 2x the 135 calls in FEB for a small debit has a breakeven around 140 and up to a $1,000 profit in the 120-135 range (upside expected move in FEB).


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Michael Rechenthin, Ph.D., (aka “Dr. Data”), managing director of research and development, has 25 years of trading and markets experience. He’s best known for his weekly Cherry Picks newsletter. On Thursdays, he appears on Trades from the Research Team LIVE.

Nick Battistatastylive director of market intelligence, has a decade of trading experience. He appears Monday-Friday on Options Trading Concepts LiveOn Wednesdays, he co-hosts Johnny Trades@tradernickybat

For live daily programming, market news and commentary, visit tastylive or the YouTube channels tastylive (for options traders), and tastyliveTrending for stocks, futures, forex and macro.

Trade with a better brokeropen a tastytrade account today. tastylive Inc. and tastytrade Inc. are separate but affiliated companies.


Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.

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