u/Big-Safe3031

Author sees NVDA as mildly bearish/defensive intraday, trading around $224 with an unfavorable tape for high-beta tech (Nasdaq down, oil above $100, rising Treasury yields on inflation/geopolitical concerns). A decisive break below today's low of ~$223.50 would strengthen the bearish afternoon thesis, with the cleaner put setup being confirmation of a downside break rather than buying puts just because the stock is red. Author flags a catalyst tomorrow: NVIDIA speaks at the Goldman Sachs Communacopia + Technology Conference, which may deter large directional bets. Main risks cited are valuation, supply constraints, China exposure, and extremely high expectations despite 106% revenue growth to $96B.