Usman Salis
⬤ Nvidia caught attention Monday with an unusually large options trade—someone picked up a massive block of December 175 calls worth about $18 million in premium. The timing is notable since Nvidia's earnings drop Wednesday. Data from Unusual Whales shows the contract saw over 10,000 contracts change hands, with open interest sitting at 596.
⬤ The December 5, 2025 NVDA $175 calls traded 10,432 contracts at an average price around $17.37. Bid volume hit 4,168 while ask volume reached 5,631, showing consistent activity throughout the day. The $18.1 million premium shows just how big this bet really is. Prices bounced between roughly $15 and $19 during the session, with early morning volatility settling down by afternoon.
⬤ The sharp spike right at market open suggests this was a single large buyer making a focused move ahead of Wednesday's earnings. Even though these calls are about 7% out of the money, the sheer size of the position points to strong conviction that Nvidia could see significant movement after the report drops. It's either a bet on volatility or an outright bullish play on the stock pushing higher.
⬤ This matters because when someone throws around $18 million on Nvidia options before earnings, it tends to get the market's attention. Nvidia's weight in the semiconductor and AI sectors means big options flow like this can shift sentiment and expectations for volatility. With earnings just days away and this kind of unusual activity, short-term price action in NVDA could get interesting fast.
Usman Salis
