NVDA earnings beat the highest bar possible, and the stock is up almost $100 this morning and looks to add $250B to its market cap in the largest gain ever, beating META's record set earlier this month.

The NQ is up 403 points right now or 2.3% for a gigantic move to the upside. I see the markets completing the AB=CD formations that are everywhere, and then we will see how we hand that price area, which is at about 5,122 in the ES, and 19,400 in the NQ. NVDA's AB = CD completes at about $800, and it's trading at $779 right now. I've included a chart from Bloomberg this morning illustrading how even as NVDA's share price has risen, their P/E has actually gone done as they continue to beat on revenue and earnings. 

Jobless claims came in at 201K this morning as this economy moves along nicely. The 10 Year Yield as sitting at 4.32% as yields continue to creep higher. There is no urgency to cut as this market continues ot run hot, and the inflation picture is not as clear as the Fed would like it before they start with their cuts. If we weren't so low for so long, I don't think everyone would be as adamant that we need to cut dramatically anytime soon.

Volatility premium has dropped as we have made it on the other side of NVDA day, with the VIX sitting at 14.24 down from a high of 16.12 just yesterday. We will be patient for now and see how this market handles the lofty levels we are approaching. Stay tuned for updates!

We had one winning option trade and one losing trade, that's how it goes sometimes. We still have a nice entry for a half of a position in the equity DIS at $98.75. DIS is currently trading at $108.15.

Options Trades:

We sold an AMAT $187.50 - $190 credit call spread for $0.60 and lose $1.90 as it traded higher on earnings.

We sold a DASH $122 - $127 credit call spread for $1.50 and collected the $1.50 for a maximum profit as it traded lower on earnings. 

Equity trades:

Long 1/2 position in DIS at $98.75. We will look to add to this position in the future.

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