Artem Voloskovets
Nvidia's stock price barely budged today, but the options market tells a different story entirely. Call premiums surged as bullish traders placed their bets, while put premiums climbed simultaneously—a clear sign that others are playing defense. This back-and-forth captures the uncertainty hanging over the chip giant as it deals with macroeconomic headwinds and questions about where the AI boom goes next.
What the Chart Shows
According to unusual_whales Nvidia is hovering around $181.29, up less than 1% for the day, stuck in a tight range between $180 and $182. Every time it tried pushing past $183, sellers stepped in and knocked it back down. The stock's going nowhere fast—at least on the surface.
But the options market is a different animal. Net call premium (the green line) jumped hard early in the session, hitting a peak around $9 million. That's serious bullish money flowing in. At the same time, net put premium (the red line) kept grinding higher all day, showing traders hedging for a potential drop. The final tally? A net positive premium of $10.35 million, which suggests institutional players are cautiously optimistic—but definitely not ignoring the risks.
The Bigger Picture
Nvidia's been riding the AI wave for months, but lately the ride's gotten bumpier. U.S.-China export restrictions on chips are tightening, bond yields are climbing, and investors are starting to wonder if the easy money's already been made. Today's flat session reflects that hesitation—everyone's waiting for the next big piece of news, whether that's earnings, a new AI product drop, or some regulatory curveball.
From a technical perspective, there's clear support forming around $180 where buyers keep showing up, but resistance between $183 and $185 is proving stubborn. The breakout attempts keep failing. What's interesting is the combination of rising call and put flows—it suggests this calm won't last. Something's brewing, and when it breaks, it could move fast in either direction.
Artem Voloskovets
