Recent volatility in the markets has driven growth stocks significantly lower and some of the best performing stocks are now trading at attractive valuations. This presents a great opportunity for options traders. Nvidia (NVDA) fits into this attractive category as lower interest rates combined with the multiple contraction over the past four weeks have brought the company back to levels that warrant a potential investment. Additionally, increased option premiums can be leveraged to potentially acquire the stock at a valuation over 35% below its peak. If we look at NVDA’s chart, it recently broke out on gains from a key resistance level at $97 in late May and fell back to that support level after rallying to its all-time high of $140 on Tuesday. This represents an attractive risk-reward ratio for a long entry. The sell-off has also started to show exhaustion levels where lower price lows are no longer confirmed by momentum, suggesting a potential trend reversal. Looking at fundamentals, NVDA trades at 41 times forward earnings, a 48% premium to the industry, but earnings per share and revenue are expected to grow more than twice as fast as peers. The company’s margins are industry-leading in the semiconductor space, meaning the recent drop in the multiple offers investors a rare opportunity to buy NVDA at a much more attractive valuation. Since the option premium on NVDA is in the 99th percentile, selling put options offers investors the opportunity to buy the stock at a significant discount to the current price. Trading on the September 6 $100 puts (weekly options) earns a premium of $7.05. Selling this put obligates traders to buy NVDA shares at an effective price of $92.95 if NVDA is below $100 at expiration. That would mean buying NVDA at an effective valuation of just 36 times forward earnings, a 35% discount to where the stock was trading at just over a month ago. And if NVDA is above $100 at expiration, the return on your cash on that trade in just 30 days will be over 7.5%. DISCLOSURES: (Owner of NVDA) All opinions expressed by CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent or affiliates, and may have been previously disseminated by them on television, radio, the Internet or any other medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS OF SERVICE AND PRIVACY POLICY. THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO PURCHASE SECURITIES OR OTHER FINANCIAL ASSETS. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT THE UNIQUE PERSONAL CIRCUMSTANCES OF ANY INDIVIDUAL. THE ABOVE CONTENT MAY NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. YOU SHOULD ALWAYS CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR BEFORE MAKING ANY FINANCIAL DECISIONS. Click here to view the full disclaimer.