Three weeks ago, we recommended Nvidia Inc. (NVDA) stock in a June 22 Barchart article and shorting out-of-the-money puts. Now, NVDA is near its target prices, and the short play is successful. What is the best play here?

Nvidia's gain helped keep the Nasdaq Composite above water today, with the tech-heavy index climbing 0.2% to 20,677 – a new all-time closing high. However, the Dow Jones Industrial Average shed 1% to 44,023 and the S&P 500 fell 0.4% to 6,243 due in part to weakness in financial stocks.

Nvidia's shares have climbed back to all-time highs as investors regain optimism in its AI infrastructure business. Generative AI will change the world. With shares up more than 50% since the start of April,

Nvidia (NASDAQ: NVDA) proved naysayers wrong yet again as the company became the first one to hit a $4 trillion market capitalization. However, the market seems unsure today as NVDA stock is bouncing back and forth at that valuation, which may indicate that Wall Street is pricing it in as a ceiling.

Nvidia ( NVDA 0.53%) is one of the hottest stocks on the market today. Over the past five years, Nvidia shares have soared in value by nearly 1,500%, including another 20% in the last 12 months. Think the run is over? Think again. Nvidia stock remains far cheaper than most investors realize due to one critical factor.

Premium is affordably priced, per the stock's Schaeffer's Volatility Index (SVI) of 36% that ranks in the 2nd percentile of its annual range, implying that options players are pricing in lower-than-usual volatility expectations.

Nvidia's stock market value ended the trading session above $4 trillion, solidifying the chipmaker's position as Wall Street's central player in a race to dominate AI technology.

Nvidia stock is jumping today following announcements that the Trump administration will allow the company's H20 processor and other hardware to be sold in China. The approval of the export licenses for the company's AI hardware is an unexpected development -- and a big win for CEO Jensen Huang.

Even at record highs, Nvidia’s stock may not be as expensive as it is touted to be. Some valuation metrics suggest room for upside