NVDA looks to have formed a lower high on waning momentum and is now testing long-term trendline support. This comes off the back of its quarterly earnings report, which was quite stellar for the trailing quarter, but disappointing on forward guidance. NVDA subsequently traded lower as a result.
While I think this stock is the blue-chip to own in its industry (and I do own shares), I am now mildly delta short via deep in-the-money puts as the chart looks vulnerable with risk potential down towards the 215 area.