I think this is a tricky trade, but if
NVDA
sneezes then
AMD
may get the flu.
AMD
's chips are not as great as
NVDA
's but they do the job.
AMD
has been highly correlated to
NVDA
and it seems like if
NVDA
tests $800-$780s then
AMD
could tank into the $180s with relative ease. Now, it seems to be caught in this downtrend and probably in the next couple of weeks, to be safe, $180 puts could print. Trade safe, always hedge, don't oversize.