The YieldMax NVDA Option Income Strategy ETF (NVDY) closed down 4.97% at $22.93 on January 7th, as Nvidia's stock fell 5.89% to $140.63 following a record high. Nvidia's decline was largely attributed to a "sell the news" reaction after CEO Jensen Huang's keynote at CES, where he unveiled new AI technologies and products. Despite the initial excitement, investors took profits, leading to a reversal in Nvidia's stock price. The broader market downturn also contributed to the decline, with rising yields impacting tech stocks. Additionally, Nvidia's call options saw significant selling, reversing previous bullish bets.