Your suggestion? how about this?
1. Bull Call Spread (for upside participation)
This limits your capital outlay while profiting if NVDA surges post-earnings.
-
Buy NVDA $137 Call (ATM)
-
Sell NVDA $145 Call (OTM)
This creates a $8 wide call spread, capping your upside gain but reducing premium cost.
2. Protective Put (for downside protection)
Add a lower strike put to protect in case NVDA drops sharply post-earnings.
-
Buy NVDA $130 Put