NVDA Falls and I Sell Naked Puts

I watch Mad Money about once per week these days.  I happened to catch Jim Cramer’s episode at the beginning of last week when he said this about Nvidia (NVDA):

“Nvidia has come up with the single best killer chip. That’s why every time that stock is down, I use that as the chip of choice on ‘Mad Money.’ Nvidia is for me!”

I entered a limit order to sell naked puts if it pulled back some based on how I read the chart that evening.  Today NVDA had a reason to pull back as MarketWatch reported this:

Chipmaker Nvidia Corp. was downgraded Thursday morning by an analyst who cited concerns about growing competition from Advanced Micro Devices Inc. Analyst Doug Freedman of American Technology Research downgraded the stock to a sell rating from neutral, saying he believes the company’s revenue growth peaked in July. Nvidia shares were trading down more than 2% on Thursday morning.

While NVDA was trading at 35.80 my limit to sell three December 32.50 naked puts (UVAXZ) hit and I received $497.75 after commissions.  It’s been 90 minutes since my order hit and NVDA is down $1 from where it was when I got in, circled in red above.  The lower horizontal line is where I plan for NVDA to level out since the 35 range might be breaking.  That’ll put it right around my strike.  Any more than that would be an insane fall for just one analyst saying it’s spent.  Stranger things have happened though.   If you are not reading this article on www.mytradersjournal.com you are reading it from a site that has plagiarized it.