Artem Voloskovets
⬤ NVDA experienced heavy options trading on the 185C call contract set to expire in 17 days, with total premiums hitting $5.6 million. Bulls stayed active throughout the session despite the stock moving lower. The contract saw volume reach 22,109 while open interest sat at 8,126, showing significant bullish positioning around this strike price.
⬤ The option traded in a range between $2.13 and $3.25, settling at an average of $2.53. Bid volume came in at 2,972 against a much heavier 17,672 on the ask side, pointing to strong demand for calls. Historical data shows participation ramping up, with November 25 marking a notable jump in both volume and open interest. NVDA's price dropped from above $174 toward $170 before recovering slightly, ultimately closing at $173.78, down 4.80%.
⬤ Earlier in the week, NVDA had been trading above $182 before pulling back. Volume topped 2.5 million shares while call volume exceeded 1.5 million contracts. The intraday chart showed sharp moves, with the stock briefly hitting $169.55 before bouncing. The surge in call activity on a down day highlights ongoing interest in short-dated options, especially around the 185 strike.
⬤ Heavy premium concentration in a short-term call contract can shape how traders view near-term momentum. With elevated options activity, volatile price swings, and earnings coming up in late February, expectations around NVDA's next moves are shifting. Given the wide intraday ranges and substantial options flow, short-term positioning will likely continue driving market sentiment in upcoming sessions.
Artem Voloskovets
