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NVDA

NVIDIA CorporationClose $205.10EOD only

Max Pain

$215.00

Next expiry Jun 8, 2026

Expected Move

±$5.15

2.5% from close

Price Gap

+9.90

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.86

Slightly call-heavy

Consensus

6.0/10

Bearish tilt

Published snapshot: Jun 5, 2026 close

End-of-day snapshot

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

Published Snapshot

Jun 5, 2026 close

NVDA Directional Report

Analysis based on market close June 8, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

Bullish bias supported by strong dealer gamma (+$439M), bullish flow, and spot pinned near max pain $210. Resistance at $210 may cap short-term upside, but gamma support and positive flow suggest upward drift toward $213-220 over two weeks.

Confidence:

9 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive pinning; +1 spot 0.6% from MP; +0.5 VIX 19 underpinning structure.

Supports: Heavy dealer gamma (+$439M), bullish flow, spot at max pain, positive DEX (+396M).
Conflicts: Resistance at $210 (max pain pin), VIX at 19 not extremely low, gamma flip at $200 could accelerate downside if broken.

🟢Dealer gamma +$439M provides strong support; pinning likely.

📈Bullish flow suggests institutional buying.

⚠️Resistance at $210 is significant; may cap rally near term.

Regime Classification

Vol Regime

Normal

IV ~32% vs VIX 19, normal relative to historical; no event imminent.

Gamma Regime

Pinning

GEX +$439M, strongly positive. Gamma flip ~$200, 4.1% below spot. Pinning expected near $210 max pain.

Flow Regime

Bullish

Bullish flow with net premium positive; call buying dominates.

Spot vs Max Pain

Spot at $209.75, within 0.6% of max pain $210.

Thesis duration: Event-specific — Multiple near-term expiries (6/8, 6/10, 6/12) all pin at $210, combined with strong dealer gamma, support short-term pinning.

Price Range Forecast

Next 2 days

$203.46$213.82

Support at 203.46; upside 213.82 if 210 clears.

Next 1 week

$199.86$217.41

Range 199.86-217.41; gamma flip at 200 key downside risk.

Next 2 weeks

$196.31$220.96

Range 196.31-220.96; structural resistance at 220.

Key Levels

Max pain pins: $210 (2026-06-08); $210 (2026-06-10); $210 (2026-06-12)

EM guardrails: 2d $203.46/$213.82; 1w $199.86/$217.41

Support: $200.00 · $196.31

Resistance: $210.00 · $220.00 · $220.96

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 98,911 (4.1% below spot)

Structural: Max Pain: $210 (6/8,6/10,6/12). EM Guardrails: 2d $203.46/$213.82; 1w $199.86/$217.41. Support: $200, $196.31. Resistance: $210, $220, $220.96. Gamma flip: ~$200.

Dealer Positioning (GEX/DEX)

GEX: $+439.0M

DEX: +396.0M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 98,911 (4.1% below spot))

NTM gamma: NTM gamma: +$439M GEX, +396M DEX. Gamma flip ~$200 based on put OI concentration 4.1% below spot.

IV Analysis

IV vs VIX: NVDA IV ~32% vs VIX 19, moderately rich but justified by positive flow and gamma. No binary events near.

Term structure: Flat to slight contango; short-dated vols elevated due to pinning demand.

Skew: Put skew elevated near $200. No clear arbitrage; short puts for premium if bullish.

Flow Analysis

Net premium: Net premium +$438M, P/C vol ratio 0.60, OI ratio 0.86, bullish call dominance.

Directional prints: 6.8 call 210 OTM 2026-06-08 — Vol 536k vs OI 19k (28.1x). Large OTM call buying; likely bullish speculative or closing? But given size, favors opening. 18.3 call 207.5 ITM 2026-06-08 — Vol 152k vs OI 6.8k (22.3x). ITM call buying near expiry; bullish positioning or closing shorts. 16.4 call 212.5 OTM 2026-06-08 — Vol 141k vs OI 11.6k (12.1x). OTM call buying; bullish speculation above current spot.

Unusual: 5.9 put 207.5 OTM 2026-06-08 — Vol 304k vs OI 4.3k (70.8x). Extreme OTM put volume; likely closing or hedging, not directional bearish. 15.6 put 205 OTM 2026-06-08 — Vol 211k vs OI 6.1k (34.4x). OTM put buying; could be protective or speculative, but vol suggests closing. 42.5 put 180 OTM 2026-07-24 — Vol 9.2k vs OI 296 (31.0x). Far OTM put with high IV; unusual long-dated bearish bet or hedge.

Risks & Catalysts

!Break below $200 gamma flip could accelerate selling.

!Resistance at $210 holds, capping upside.

!VIX spike above 25 pressures long gamma.

!Flow reversal if institutional sellers appear.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-06-26 $210.00/$217.50 call spread Why now: Defined risk captures upside from $210 to $217.5 with 18 DTE, aligning with short-term drift.	Upside capped at $217.5; any break below $200 could hurt. Liquidity constraints: short_call: Open interest below 25.
Put credit spread	Moderate	Sell 2026-06-26 $200.00/$195.00 put spread Why now: Sell 200 put, buy 195 put with 18 DTE; net credit benefits from gamma support above $200.	If NVDA drops below $200, defined loss up to $5.
Long call	Moderate	Buy 2026-07-02 $210.00 call Why now: Buy 210 call 24 DTE; delta ~0.50 captures drift with unlimited upside potential.	Time decay and implied volatility contraction; optionality cost high.

Top Plays

Put credit spread

Sell 2026-06-26 $200.00/$195.00 put spread

Collects premium from bullish bias with defined risk below $200

Why this play: Highest probability of success due to gamma support and high liquidity

Credit: $1.12-$1.37

Max loss: $3.63

BE: $198.63

Mgmt: Close at 50% max profit or at $200 invalidation

Risk-averse bullish traders

Long call

Buy 2026-07-02 $210.00 call

Directly benefits from upward drift toward $213-220

Why this play: Unlimited upside potential with strong flow and liquidity

Debit: $7.34-$8.97

Max loss: $8.97

BE: $218.97

Mgmt: Set stop at $200; roll or close at 14 DTE

Aggressive bullish traders

Bull call spread

Buy 2026-06-26 $210.00/$217.50 call spread

Captures short-term drift with capped risk

Why this play: Defined risk capturing upside to $217.5, but lower liquidity reduces suitability

Debit: $2.63-$3.22

Max loss: $3.22

BE: $213.22

Mgmt: Close at 50% max gain or before expiration Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Moderate bullish traders with defined risk preference

Watchlist Triggers

Entry Triggers

IFIf NVDA holds above $200 (gamma flip) for 30 minutes in regular session → Sell NVDA 2026-06-26 $200/$195 put credit spread at $1.12-$1.37 credit

IFIf NVDA breaks above $210 with volume, confirming bullish continuation → Buy NVDA 2026-07-02 $210 call at $7.34-$8.97

Exit Triggers

EXITIf NVDA closes below $200 (gamma flip) on daily basis → Close all bullish positions (put credit spread and long call) at market

Tactical Summary

Bullish bias with gamma support at $200 and resistance at $210. Top plays: put credit spread (high liquidity, rank 1) for defined risk, long call (rank 2) for upside drift. Invalidation: break below $200. Monitor VIX and gamma flip for exit.

How to Use These Reports

This directional reflects the market close on June 8, 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.