Nvidia has been on a tear for years
“Nvidia has been on a tear for years”
That’s why Dell is doing so well.
Yes, it was never under $300/share in 2023.
So, how did he buy a CALL option(the right to be long)
at $120/share in 2023?????
“Paul purchased 50 call options in Nvidia with a strike price of $120. The purchase was made on Nov. 22, 2023, and the contracts expire on Dec. 20, 2024.”
The LOW price in November 2023 was $403/share. Nvidia has not been $120/share since August 2020.
This explains it later in the article:
“Premiums for options like these usually cost between $350 and $450 per share, both professors said. Assuming Paul paid a premium of $350 for each share, he would have paid $35,000 (100 times 350) for every call option he purchased. Because he purchased 50 call options, per the congressional disclosure form, he may have shelled out as much as $1.75 million (50 times $35,000) in premiums for the transaction as a whole.”