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NVDA

NVIDIA CorporationClose $208.19EOD only
Max Pain
$210.00
Next expiry Jun 10, 2026
Expected Move
±$4.05
1.9% from close
Price Gap
+1.81
Distance to max pain
IV Rank
39
Middle-high premium
P/C OI
0.85
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 9, 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 9, 2026 close
NVDA Directional Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Bearish bias from negative GEX and macro sell-off; bullish flow offsets. Key support $200; if breaks, target $188.57.

Confidence:
4 / 10
Base 5 from momentum; -1 GEX/flow conflict.
Supports: Bullish flow premium.
Conflicts: Negative GEX; spot below $200; SPY/QQQ down.
📉Negative GEX amplifies downside
📈Bullish flow shows dip buying
⚠️Key level $200 gamma flip

Regime Classification

Vol Regime
High
High vol; VIX >22; NVDA IV rich.
Gamma Regime
Trending
Trending; GEX -$3.6M; flip near $200.
Flow Regime
Bullish
Bullish; net call buying.
Spot vs Max Pain
Below
Below max pain ($205) and gamma flip ($200).
Thesis duration: Multi-week — Multi-week due to macro volatility and dealer hedging.

Price Range Forecast

Next 2 days
$194.15$206.68
Range $194.15-$206.68; $200 key
Next 1 week
$192.47$208.37
Support $192.47; resistance $208.37
Next 2 weeks
$188.57$212.27
Drop to $188.57 if $200 fails

Key Levels

Max pain pins: $205 (2026-06-10); $210 (2026-06-12); $210 (2026-06-15)
EM guardrails: 2d $194.15/$206.68; 1w $192.47/$208.37
Support: $200.00 · $188.57
Resistance: $205.00 · $210.00 · $212.27
Gamma flip: ~$200.00 — Approx — based on put OI concentration of 100,256 (0.2% below spot)
Structural: Max pain $205 (6/10), $210 (6/12,6/15). Support $200 (gamma flip), $188.57; resistance $205, $210, $212.27. 2d guardrails $194.15/$206.68; 1w $192.47/$208.37.

Dealer Positioning (GEX/DEX)

GEX: $-3.6M

DEX: +393.0M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 100,256 (0.2% below spot))

NTM gamma: GEX -$3.6M (short); DEX +393M shares (long); gamma flip ~$200.

IV Analysis

IV vs VIX: NVDA IV high vs VIX; rich for selling.

Term structure: Front elevated; backwardation risk.

Skew: Put skew high; sell $190 puts.

Flow Analysis

Net premium: Net premium positive $12.86M, P/C vol ratio 0.80, call dominance.

Directional prints: 42.8 call 202.5 OTM 2026-06-12 — Vol/OI 19.9, OI 1257. If bought bullish, if sold bearish. Preferred bought. 52.4 call 192.5 ITM 2026-06-12 — Vol/OI 17.3, OI 174. ITM high premium. Bullish if bought. Preferred bought. 28.1 call 207.5 OTM 2026-06-10 — Vol/OI 15.1, OI 11894. Low premium. If bought bullish, sold bearish. Preferred bought.

Unusual: 71.9 put 165 OTM 2026-06-15 — Vol/OI 46.8, OI 197. High relative. If bought bearish hedge, sold bullish premium. Preferred bought. 13.1 call 202.5 OTM 2026-06-10 — Vol/OI 33.2, OI 5418. Extreme near expiry. If bought bullish, sold bearish cover. Preferred sold. 48.3 put 185 OTM 2026-06-15 — Vol/OI 24.5, OI 344. If bought bearish, sold bullish. Preferred bought.

Risks & Catalysts

!Break $200
!Macro decline
!Flow reversal
!Vol spike

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bear put spreadModerate
Buy 2026-07-10 $190.00/$185.00 put spread
Why now: Negative GEX and macro sell-off favor puts; defined risk limits loss if reversal occurs
Upside reversal above $200 could cause loss; theta decay works against if move delayed
Long putModerate
Buy 2026-07-10 $190.00 put
Why now: High put open interest at $200 suggests strong resistance; flow shows call dominance but thesis bearish
Time decay erodes premium if move doesn't occur quickly; implied volatility contraction

Top Plays

#1
Bear Put Spread
Buy 2026-07-10 $190.00/$185.00 put spread
Bearish setup via 190/185 put spread; benefits from expected downside while capping risk.
Why this play: Defined risk with negative GEX and macro sell-off; limits loss if reversal occurs.
Debit: $1.19-$1.46
Max loss: $1.46
BE: $188.54
Mgmt: Exit if NVDA breaks above $205 invalidation; take profit near 50% max gain.
Risk-averse traders seeking controlled bearish exposure.
#2
Long Put
Buy 2026-07-10 $190.00 put
Outright put on $190 strike; leverages bearish thesis but with unlimited loss risk.
Why this play: Direct bearish bet with high payoff potential; $200 put resistance supports downside.
Debit: $4.57-$5.58
Max loss: $5.58
BE: $184.42
Mgmt: Set stop-loss at $205; consider rolling if price approaches support.
Aggressive traders with high conviction on downside.

Watchlist Triggers

Entry Triggers
IFNVDA closes below $200.00 support (gamma flip). → Buy 2026-07-10 $190/$185 put spread at market (rank 1). Entry range $1.19-$1.46.
IFNVDA breaks below $188.57 support after initial entry. → Add long put: buy 2026-07-10 $190 put at market (rank 2). Entry range $4.57-$5.58.
Exit Triggers
EXITNVDA closes above $205.00 invalidation level. → Exit all bearish positions (put spread and/or long puts).

Tactical Summary

Bearish bias: negative GEX, macro sell-off. Key support $200; break to $188.57 likely. Enter bear put spread on $200 breakdown; add long put on further decline. Exit if $205 reclaimed. Multi-week.
How to Use These Reports
This directional reflects the market close on June 10, 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.