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NIO

NIO Inc.Close $5.74EOD only

Max Pain

$6.00

Next expiry May 22, 2026

Expected Move

±$0.47

8.2% from close

Price Gap

+0.26

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.75

Slightly call-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects NIO options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

NIO Flow Report

Analysis based on market close March 31, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

7 / 10

base 5; +2 extremely bullish net premium & P/C ratio; +1 GEX/flow alignment; -1 high IV regime & deep OTM call prints

Watch next session: $5.50 call OI buildup for 4/2 expiry; Any put flow at $6.00 strike

Flow Summary

Net premium: +$8.3M strongly bullish

P/C volume ratio: 0.26 — extremely call-dominant

P/C OI ratio: 0.69 — moderate call lean in positioning

Extreme call dominance in volume and premium, with net bullish premium of $8.3M. Flow is aggressively betting on upside, though some prints are deep OTM lottery tickets. Positioning shows a large put wall at $2.00, but near-term flow is overwhelmingly bullish.

Notable Prints

NIO 4/24 $7.50 Call

Vol: 6,284

OI: 1,708

Vol/OI: 3.7x

IV: 60.2%

Notional: ~$378,000

Intent: Directional upside bet

Dual read: Bought (bullish) or sold/overwritten (neutral-bearish)

Read-through: Most significant near-term directional bet. Buying ~25% OTM calls 24 days out suggests conviction in a move toward $7.50. Notional value is meaningful.

NIO 4/17 $6.00 Put

Vol: 1,486

OI: 945

Vol/OI: 1.6x

IV: 59.0%

Notional: ~$89,000

Intent: Hedge or speculative downside bet

Dual read: Bought (protective/bearish) or sold (bullish)

Read-through: Standout put flow in a sea of calls. Likely a hedge for long stock or call positions given spot at $6.03. Provides a floor for the bullish thesis.

NIO 11/20 $8.00 Call

Vol: 676

OI: 345

Vol/OI: 2.0x

IV: 67.9%

Notional: ~$41,000

Intent: Long-dated directional bet

Dual read: Bought (bullish) or sold (neutral-bearish)

Read-through: LEAP call buying, targeting ~33% upside over 8 months. Consistent with a longer-term bullish view, complementing the near-term aggressive calls.

NIO 4/2 $2.00 Call

Vol: 743

OI: 122

Vol/OI: 6.1x

IV: 937.5%

Notional: ~$4,500

Intent: Lottery ticket or spread leg

Dual read: Bought (lottery) or sold (noise)

Read-through: Extreme OTM with massive IV. Likely a cheap lottery ticket or part of a complex spread. Low notional value makes it noise for directional signals.

Institutional Positioning

Call additions: $5.00-$7.50 calls across Apr/May expiries, plus LEAPs at $8.00 & $12.00

Put additions: Minimal near-term; notable $6.00 put for 4/17, massive OI wall at $2.00 put (196,695 OI)

GEX/DEX consistency: Yes — Positive GEX (+$104.6M) aligns with bullish flow, supporting a pinning/mean-reverting regime near current price.

OI clusters: Major call walls at $7.00 (152,920 OI) and $10.00 (101,067 OI). Major put wall at $2.00 (196,695 OI). Near-term max pain at $5.50-$6.00.

Hedging evidence: The $6.00 put flow for 4/17 is the primary hedge signal. The enormous $2.00 put OI is likely a legacy/fundamental hedge, not recent flow.

Max pain context: Spot ($6.03) is above near-term max pain ($5.50 for 4/2), creating a slight gravitational pull lower, but strong call flow is pushing against it.

Signal vs Noise

~Deep OTM calls for 4/2 expiry ($0.50, $1.00, $2.00, $2.50) are lottery tickets with extreme IV (>200%). Low notional value, not meaningful directional signals.

~The massive $2.00 put OI (196,695) is a positioning artifact, not recent flow. It represents a long-term fundamental hedge, not a near-term directional view.

~High volume in some prints (e.g., 4/2 $2.00C) is amplified by low existing OI (Vol/OI ratio high), but notional value is trivial.

Key Conclusions

🐂Extremely bullish flow regime with +$8.3M net premium and P/C ratio of 0.26

📌Positive GEX supports pinning/mean-reversion near current price, aligned with flow

🎯Institutions are targeting moves to $7.50 near-term and $8.00+ by year-end

⚠️Watch $5.50 level (max pain & major premium strike) as key support for bullish thesis

How to Use These Reports

This flow reflects the market close on March 31, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.