Opinions
Don Vialoux
SPDR S&P 500 ETF
SPY-N
BUY
Mar 13, 2014
Stock price when the opinion was issued
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He did a put spread on May 2, the 500-520 end of July put spread. He wasn't concerned about NVDA or tech, but to the market's reaction broadly to Nividia's earnings. Rally broadening in the S&P had not happened. You're limiting your downside with a spread. He bought back the 500 put, which leads him long only the 599 outs.
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There are 2 sweet spots a year for the US market, particularly for this stock. One period is from the end of October until the end of December, the Christmas buying season. The other one is from the end of February right through until the end of April, the spring buying season. We have just entered into this period right now. You would own this through until about the 1st week in May and that is when you will take some profits.