GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL)

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  • RichardinME: @DAN Hi Dan, it's a shame if someone has a beef with anyone, they need to involve thousands of others instead of just sending an email like in the old days. In any case, I have a question about your $NDVL trade. I understand you were using this vehicle instead of $NVDA based on momentum and the added fuel of 2x. Do you feel $NVDL is better more for momentum/day trading and the $NVDA might be preferable to hold long term? My concern/question for $NVDL is that it's great if $NVDA goes up 5 percent, this goes up around 10 percent in a day. But if it goes down 10 percent one day due to a 5 percent pull back in $NVDA, Even if $NVDA makes up it's 5 percent on the next trading day $NVDA will only recover 90 percent? Hope my question makes sense?
  • DAN: @RichardinME $NDVL $NVDA $NVDL Yes, the question makes sense. I look at $NVDL as a swing trading vehicle. Either for daytrading, or for holding for just a few days...for the reasons you mention. it's awesome on the way UP...but brutal on the way down. It's leveraged. But for longer term holding, I do favor $NVDA. We hold a bunch of it in our investment accounts and rarely even look at it. But if it was swinging twice as much as it is, I'd be watching it every day! ;-) Hope that helps, buddy. Dan
  • Imortalz1: $NVDA, $NVDL on Tuesday I STO ITM covered calls on both. 125's and 65's I got about 4.00 for each ex. tomorrow so I'm good w/ NVDA from 120-130 and NVDL 60-70.
  • StockMarketMentor: ...
    On the equity front, I like the way $NVDL is setting up today. After breaking decisively above its 50-day moving average on Monday, it pulled back more than 4% yesterday. But today we've already got 1.1 million shares across the tape and the morni ...
  • marklesparkle: @StockMarketMentor $NVDL $NVDA Dan do you think the Composite man is showing back into town
  • trtl: @StockMarketMentor $NVDL $NVDA do you prefer $NVDL over $NVDX (other than volume)
  • DAN: @marklesparkle $NVDL $NVDA Yep. He's got his trench coat and fedora on...just sneaking around. LOL
  • DAN: @trtl $NVDL $NVDA $NVDX I "think" they're the same, right? Yes, the volume is a big deal...but 4.5 million on NVDX is totally fine. And I think that NVDX would be much better for people who want to use options to augment their returns, though it only has standard contracts (each 3rd friday of the month). For example, doing covered strangles. Buy the stock at 16.60. Sell the 16 put at 2.10. Sell the 17 call at 2.30. You take in $4.40 in cash. If the stock falls below $16, you get more stock put to you, but your cost basis is pretty low. Anyway, if you are doing that type of strategy, NVDX might be better if you are price sensitive (i.e., $16 vs. $68 bucks). NVDL has weeklies, so you could do the covered strangle strategy each week, which also works. Hope this helps, trtl.
  • bigbartabs: $NVDA $NVDL has maybe reached its high for now, resistance, falling volume, now RSI pointing down
  • billyzeke: @bigbartabs $NVDA $NVDL I trimmed some earlier, thinking the same.
  • Cjauger: @billyzeke $NVDA $NVDL same here, trimmed half
  • Cjauger: Trimmed half of $NVDA, $NVDL, and $QLD (my only positions) then went to $CASH. The rubber band went way down, and now it went way up. Both sides were parabolic, $SPY within 3% of its all time high. At the very least this charts have to rest, if not pull back some.
  • billyzeke: @Cjauger $NVDA $NVDL $QLD $CASH $SPY I trimmed 1/3 of my $NVDA position earlier and have staggered stops in place in case things start really moving to the downside. I actually added a little back at $126.25, I'm watching it closely.
  • Cjauger: @billyzeke $NVDA $NVDL $QLD $CASH $SPY. I thought about putting a stop at the LOD on my remaining shares. Then I looked at how much open profit I had, so I took it, will wait for charts to reset. Seating on my hands, hard to do.
  • billyzeke: @Cjauger $NVDA $NVDL $QLD $CASH $SPY I find it's hard for me to get back in sometimes so I try to hang in there if I have a decent cushion and the market isn't completely falling apart.
  • jeffrhen55: @DAN $NVDL Did same with my NVDL holding this morning. A profit is still a profit. Take care of yourself - getting older is not for the faint of heart, Dan! (My next B-day in a few months is a big one - 70 - Yikes!)
  • Cjauger: $NVDL thanks for the option strategy lesson @Dan.
  • joelsg1: @Cjauger $NVDL Didn't hear, in a nutshell, what was the strategy?
  • Geewhiz: @joelsg1 $NVDL sell covered strangle
  • joelsg1: @Geewhiz $NVDL OK, thanks. I like call spreads generally and opened 8/30 $69-78 spreads.
  • Cjauger: @joelsg1 $NVDL sell the weekly 65 put and sell the weekly 70 call, I collected $3.86
  • DAN: Taking $NVDL for a little ride this morning. Depending on how it acts, I might carry it over the weekend...or not. Stop is below today's intraday low of 61.32. Not too far below...but I'm trading under the assumption that the stock will not fall to a new intraday low.
  • DAN: Out of $NVDL -- NVDA is still going...but I've got an appointment with a surgeon (take care of your body, youngsters. Dumb stuff does eventually catch up with you) and I don't want to be thinking about a stupid stock position. There's more to life than whether NVDA goes up or down. LOL
  • Hawaiianmaxx: @DAN $NVDL heal fast, Sir 🫡
  • RichardinME: @joelsg1 $NVDA $QQQ Thanks for the reply. I think I agree with you. It was actually $NVDA that was bringing the market higher for over a year. Just seems running to 140 before earnings would... Well it would mean $NVDA would move about 30 percent since the crash last Monday. 30 percent run for $NVDA without an ER in there would probably be a record. I'm not being the bear I"m long $NVDL for the extra bang as I don't feel confident enough to play this with options.
  • Cjauger: @champ $DELL Caught my attention this morning as it jumped to the second spot at the top of my watchlist behind $NVDL, in terms of percent gain. I picked up a starter. also added to $NVDA
  • DAN: @scottrades $NVDA I bought some more $NVDL this morning. Holding this for a longer term trade (i.e., until/unless it looks like $NVDA is stalling out. But I think that the stock is going to be relatively strong as we head into earnings in a couple of weeks -- 8/28) I have some of it stopped just below today's intraday low as a tip of the hat to risk management.
  • RichardinME: @DAN $NVDA $NVDL Is there not a lot of supply/resistance all the way to about 114?
  • DAN: @RichardinME $NVDA $NVDL I'd say that it's rough all the way to 117. But I think it's going higher -- partially because I'm seeing so many articles that are dismissive on $NVDA and saying stuff like "Forget $NVDA! This is a better stock." and "Nvidia is done, etc." The Acc/Dist rating on MarketSurge is an E -- meaning, it's being dumped with extreme prejudice by institutions. But that criterion takes into account the last 13 weeks. As I see it, the current price action suggests that the institutional dumping has run its course. The RS rating is 98, which means that it's still a force to be reckoned with.
  • RichardinME: @DAN $NVDA $NVDL Thanks for the answer. I'm guessing Calls would not be a good way to play this as they are too expensive along with $NVDA not being in an uptrend?
  • Wolf: @champ $WMT #Money-management #Risk-off #Options-Friday #Entry-timings #Pop-up Same. The only 2 I had was a small position in $APP and $NVDL which stopped out. My trigger was when the $QQQ didn't close back above 500.
  • champ: @Wolf $WMT $APP $NVDL $QQQ #Money-management #Risk-off....We will have to still be Alert this morning ....because it sure looks like, as of RHRN, we might see some nice turns in the tech sector this morning and as always...all Back-in entries, will start Out as a Day-trade.....Good Luck!
  • StockMarketMentor: ...
    $NVDA -- I’m taking $NVDA and $NVDL off the ATI list because they are currently not “active.”

    $NVO -- This is forming a very solid bottom at around $140 as it slowly drifts into the 50-day moving average. Our current stop is a ...
  • bigbartabs: $NVDA $NVDL ... nice spot to start a new posiition... just above the 8dema
  • Cjauger: @woodman $MU I have $ARM it held up so much better than $NVDA through the last 2 weeks and $NVDL
  • bigbartabs: @woodman $NVDA ... I bought back in 7/3 using $NVDL. So far so good.
  • StockMarketMentor: ...
    $NVDA/$NVDL -- Pulling back on volume today but still in congestion. I like this price action because we are seeing ongoing consolidation on light volume. The light volume indicates a lack of persistent selling pressure and instead just some " ...
  • bigbartabs: @Onthemark $NVDA ... same here with $NVDL
  • StockMarketMentor: ...
    $NVDL -- Double your fun on this 2x Long NVDA ETF. Up about $1.40 on this. It'll obviously track $NVDA...only twice as much.

    $NVO -- Wednesday's test of the 50-day moving average held pretty well, though the stock is below the 21-day moving ave ...
  • StockMarketMentor: ...
    Open positions are on $AVGO $BAC $GOOGL $LLY $META $NVDA $NVDL $NVO.

    REGARDING TRADE TRAK

    My sincere apologies for canceling my “Trade Trak Reveal” last night. I was hoping that I could rise to the occasion, but my doctor had diff ...
  • traderbren: @StockMarketMentor $MU $GOOGL $AVGO $NVDA $BAC $LLY $META $NVDL $NVO - Please take care of # 1 ...wishing you a speedy recovery, but make sure you take care of you. best, Brendan
  • Cjauger: @StockMarketMentor $MU $GOOGL $AVGO $NVDA $BAC $LLY $META $NVDL $NVO @DanTake care and get well soon. I and the SMM community are grateful for your willingness to fully share your wisdom with us. Thank you not only for helping us become better trades but also become wiser All of us are praying for you to have a full recovery.
  • marklesparkle: @StockMarketMentor $MU $GOOGL $AVGO $NVDA $BAC $LLY $META $NVDL $NVO Dan stay down because you know what they say??? A hard head makes a sore behind
  • champ: @StockMarketMentor $MU $GOOGL $AVGO $NVDA $BAC $LLY $META $NVDL $NVO,.......@DAN years ago when I had my Knee replaced, around 12 years ago.... they kept me in the hospital 4-days, I was working with my #iPad and even posting in the forum ....and when I got home, I continue to work from my bed, for around 7 days or so, 11-days is a long time...and for me, it was really hard, to stay away from my Trading-Desk.... so just Take Care of Yourself...be smart. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
  • oldmaratom: @StockMarketMentor $MU $GOOGL $AVGO $NVDA $BAC $LLY $META $NVDL $NVO @Dan# You have been more than upfront about your situation, Since Super Man, no longer exists, we know your recovery is utmost to you and your family, including SMM. God Bless Gods speed.
  • StockMarketMentor: ...
    If you are looking for a higher octane trade on Nvidia, try $NVDL -- a 2x long NVDA ETF. It is really intended for short-term swing or day traders. But the chart speaks for itself. It's a strong one.

    That's all I've got for today.

    --Dan
    ...
  • StockMarketMentor: Per my recent note... Adding $AVGO to the ATI List. Basis: 1585.37 Stop: 1499.00 (This is a bit premature. You might want to wait for an "up" day, where the stock is trading higher than the prior day. As I read the chart, I think that's gonna happen tomorrow). Adding $NVDA back to the ATI List: Basis: 125.87 Stop: 117.30 (This is a swing trade idea. That's why I have a relatively tight suggested stop. Longer term, this stock works. Make sure your trade is YOUR trade). Enthusiastic Nvidia bulls can consider $NVDL -- the 2x Long NVDA ETF. Basis: 72.35 Stop: 63.10 (This is a loose stop, which comports with a high volatility chart). I'll also put that on the list...but just note that it will be pretty volatile and it's a more aggressive position. --Dan
  • marklesparkle: $NVDA $NVDL I'm glad I took some realized gains in these this am first thing. Like Dan says it only matters when its in your bank account so to speak. Kind of like an employer promising to pay you
  • sbw1: So after the $NVDA split what does that do to the price of $NVDL? Does it do anything?
  • DrScience: @sbw1 $NVDL is a leveraged ETF based on NAV of the components and not price. It will not change.
  • bigbartabs: @DrScience $NVDL ... if "NAV of components" what happens when NVDA splits tomorrow?
  • DrScience: @bigbartabs $NVDL The value of Nvidia stock is price per share times number of shares e.g. $1200 X 2.5B = 3T value. So... after split, $120 X 25B = 3T Value does not change. So, ETF tracking value remains the same. Now... there will be some performance loss IMO because the ETF uses options to gain the leverage. Option prices at 1/10th of current will offer less slippage and arbitrage in pricing. Same thing happened with other stock tracking ETF's for $AAPL, $AMZN, etc.
  • bigbartabs: @DrScience $NVDL $AAPL $AMZN ... I think all derivatives (2x 3x ETFs) use options to get their leverage... true?
  • DrScience: @bigbartabs $NVDL Yes. Options are the way to get out-performance, when the option holder is correct on direction for the day. That's why the 2x, 3x ETFs move at that pace, up and down, and also why the advertised daily returns aren't guaranteed for more than the day. It works sorta like the Cramer school of investing. When the price goes down, Long ETF's buy more calls! For short ETF's, when the stock goes up, buy more puts.
  • Kime: Is there any underlying risk holding/buying $NVDL over $NVDA, besides the obvious 2x?
  • Henry: @Kime $NVDL $NVDA It has to be at least part options so there is slippage when they have to roll the options. If for some reason implied volatility falls, the value of those options will fall. Then there is the math problem. If NVDA falls 10% then NVDL will fall 20%
  • Kime: @Henry $NVDL $NVDA Thanks so much, I think I will stick with $NVDA.
  • dgrobo: Got a boat load of $NVDA now got a small wheel barrow worth of $NVDL
  • gmj: $NVDA, $NVDL waiting all day for a pb to the VWAP, adding a little at a time
  • gmj: @Henry $NVDA $NVDL Thx for the reply Henry, always enjoy your comments. I did see the wkly and wondered how much that might have any weight. Where is John Bollinger when you need him. That's why I sent the note Dan and the forum. I just don't want to dbl my pos to 10% before 6/6, 6/10 split unexpected reaction. Will be watching this stock carefully. It will be interesting.Thx again.
  • gmj: ...
    I'm a believer in NVDA's future and building pos in $NVDA and $NVDL ... my NVDA pos is currently 5-6% of my portfolio and want at least 10% in the near term BUT HERE's MY QUESTION ... BBands typically contain price and when outside I expect natural ...
  • Henry: @gmj $NVDA $NVDL I've seen a stock stay above the BB for 7 days, (don't remember which) I believe 4 or 5 days is about all most hot stocks can last. On a weekly chart it doesn't look over bought at all.
  • JosephM: $NVDL...$41.30...1.5X NVDA
  • wpsimril: $NVDL Just heard of this $NVDA surrogate- anybody trading this?
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Stock Price $76.09
Change -6.55%
Volume 18,931,000

The Fund seeks daily investment results, before fees and expenses, of 1.5 times (150%) the daily percentage change of the common stock of NVIDIA Corporation The Fund is an actively managed exchange traded fund that attempts to replicate 1.50 times (150%) the daily percentage change the Underlying Stock by entering into a swap agreement on the Underlying Stock. The Fund aims to generate 1.50 times the daily performances of the Underlying Stock for a single day. A single day is defined as being calculated from the close of regular trading on one trading day to the close on the next trading day.

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