The Direxion Daily NVDA Bull 2X Shares ETF (NVDU) closed down 12.5% at $101.10 on January 7th, as Nvidia's stock fell 5.89% to $140.63 following a "buy the rumor, sell the news" reaction to its CES 2025 announcements. Nvidia's CEO Jensen Huang's keynote at CES highlighted new gaming GPUs and AI advancements, but the market was disappointed by the lack of focus on data center processors, which are highly anticipated by investors. The stock initially hit a record high of $153.03 but reversed as traders sold off call options, with over 200,000 lots of $140 calls and 600,000-700,000 contracts of February 21-expiry calls being offloaded. This selling pressure was compounded by broader market declines, with the S&P 500 and Nasdaq Composite indices also pulling back.