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NVDA

NVIDIA CorporationClose $210.69EOD only

Max Pain

$205.00

Next expiry Jun 22, 2026

Expected Move

±$4.39

2.1% from close

Price Gap

-5.69

Distance to max pain

IV Rank

100

High premium

P/C OI

0.88

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: Jun 18, 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 18, 2026 close

NVDA Directional Report

Analysis based on market close June 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

NVDA leans bullish near-term driven by strong bullish flow and positive gamma pinning near $208 max pain, but normal vol and resistance at $220 cap upside. Confidence is high (9/10) as GEX/flow alignment and spot at MP reinforce pinning.

Confidence:

9 / 10

Base 5; +2 GEX/flow aligned; +1 GEX positive; +1 spot 0.6% from MP; +1 low VIX 17.

Supports: Bullish flow (+$383.8M GEX), pinning gamma at $208, spot at MP, low VIX (17.3).
Conflicts: Normal vol, resistance at $220, gamma flip at $200.

📊GEX +$383.8M with pinning at $208 max pain across 3 expiries.

🎯Spot within 0.6% of MP; pinning likely.

Regime Classification

Vol Regime

Normal

Vol is Normal; IV consistent with VIX 17.3.

Gamma Regime

Pinning

GEX +$383.8M, strong positive gamma pinning near $208 max pain, flip at $200.

Flow Regime

Bullish

Bullish net premium, put/call skewed bullish.

Spot vs Max Pain

Spot at $208 max pain; near exact pin.

Thesis duration: Event-specific — Max pain pins on 2026-06-22, 2026-06-24, 2026-06-26 expiries suggest short-term event-driven pinning.

Price Range Forecast

Next 2 days

$203.90$213.39

Pinning at $208 within $203.90-$213.39 guardrails.

Next 1 week

$201.02$216.27

Breakout above $213.39 targets $216.27.

Next 2 weeks

$195.97$221.32

Sustained momentum could reach $221.32 resistance.

Key Levels

Max pain pins: $208 (2026-06-22); $208 (2026-06-24); $210 (2026-06-26)

EM guardrails: 2d $203.90/$213.39; 1w $201.02/$216.27

Support: $207.50 · $200.00 · $195.97

Resistance: $220.00 · $221.32

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 104,471 (4.1% below spot)

Structural: Max pain pins: $208 (Jun22, Jun24, Jun26). EM guardrails: 2d $203.90/$213.39, 1w $201.02/$216.27. Support: $207.5, $200, $196. Resistance: $220, $221.32. Gamma flip at $200 based on put OI concentration.

Dealer Positioning (GEX/DEX)

GEX: $+383.8M

DEX: +342.1M shares

Gamma flip: ~$200 (Approx — based on put OI concentration of 104,471 (4.1% below spot))

NTM gamma: GEX +$383.8M (positive), DEX +342.1M shares. Gamma flip at $200 from high put OI.

IV Analysis

IV vs VIX: IV is ~25% (30d) vs VIX 17.3; slightly rich but normal given stock vol.

Term structure: Likely contango; no event kinks in near term.

Skew: Skew neutral; no standout vol opportunity.

Flow Analysis

Net premium: Net premium $242M bullish, P/C volume 0.50, OI 0.83 indicates call buying.

Directional prints: 6.6 call 210 OTM 2026-06-22 — Vol/OI 20.7, low IV 6.6% suggests opening call buying; bullish. 25 call 215 OTM 2026-06-22 — Vol/OI 20.5, IV 25% moderate, call accumulation; bullish. 49.5 call 300 OTM 2026-07-31 — Vol/OI 23.9, IV 49.5% long-dated call buying; bullish.

Unusual: 68 put 212.5 ITM 2026-06-22 — Vol/OI 32.8, IV 68% high, ITM put hedging; likely bought for protection. 65.6 put 220 ITM 2026-06-24 — Vol/OI 26.3, IV 65.6% high, ITM put defensive; possibly bought. 82.8 put 172.5 OTM 2026-06-24 — Vol/OI 20.2, IV 82.8% extreme, OTM put speculation; bearish.

Risks & Catalysts

!Failure to hold $208 max pain could trigger gamma flip towards $200.

!Resistance at $220 challenged but may cap upside.

!Normal vol limits explosive moves.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-07-17 $220.00/$225.00 call spread Why now: Defined-risk bullish spread benefits from moderate upside while limiting cost.	Upside capped at short strike; failure to hold $208 may result in loss.
Put credit spread	Moderate	Sell 2026-07-17 $195.00/$185.00 put spread Why now: Collect premium with defined risk; high probability of success near support.	Downside risk if spot breaks below short put strike; limited by long put.
Long call	Moderate	Buy 2026-07-17 $215.00 call Why now: Limited downside, asymmetric upside if NVDA breaks resistance.	Loses full premium if spot stagnates or falls.

Top Plays

Bull Call Spread

Buy 2026-07-17 $220.00/$225.00 call spread

Buy 220/225 call spread to profit from moderate upside above $220 resistance, with limited loss if wrong.

Why this play: Defined-risk bullish play with moderate upside potential, aligning with near-term bullish bias while capping cost and risk.

Debit: $1.09-$1.33

Max loss: $1.33

BE: $221.33

Mgmt: Exit if NVDA drops below $207.5; take profits near $225 if momentum stalls.

Traders seeking defined risk and moderate upside exposure.

Long Call

Buy 2026-07-17 $215.00 call

Buy $215 call to benefit from bullish breakout above $220 resistance, but requires strong momentum.

Why this play: Asymmetric upside if NVDA breaks resistance, but higher risk due to unlimited loss potential and premium cost.

Debit: $4.66-$5.69

Max loss: $5.69

BE: $220.69

Mgmt: Set stop-loss at $207.5; consider scaling out at $225.

Aggressive traders seeking leveraged upside with higher risk tolerance.

Put Credit Spread

Sell 2026-07-17 $195.00/$185.00 put spread

Sell 195/185 put spread to collect premium, relying on support holding above $195.

Why this play: High probability but more defensive/neutral, less aligned with bullish bias; best for income if sideways to up.

Credit: $1.31-$1.60

Max loss: $8.40

BE: $193.40

Mgmt: Monitor spot near $208; roll down if NVDA weakens below $200.

Income-focused traders expecting limited downside.

Watchlist Triggers

Entry Triggers

IFNVDA holds above 207.5 and breaks above 208 max pain with volume → Buy 2026-07-17 $220/$225 call spread at limit up to 1.33

IFNVDA breaks above 220 resistance with strong momentum → Buy 2026-07-17 $215 call at market

IFNVDA maintains above 208 without breaking 207.5 → Sell 2026-07-17 $195/$185 put spread near 1.60 credit

Exit Triggers

EXITNVDA drops below 207.5 invalidation level → Close all positions: call spread, long call, put spread

EXITNVDA reaches 225 or momentum stalls → Take profits on $220/$225 call spread

EXITNVDA breaks below 200 gamma flip → Buy back $195/$185 put spread to cap loss

Tactical Summary

NVDA bullish near-term with gamma pinning at 208. Support 207.5, resistance 220. Top plays: bull call spread (220/225) for upside, long call $215 for breakout, put credit spread (195/185) for income. Entry triggers use key levels; exit on invalidation below 207.5 or manage at 225/200.

How to Use These Reports

This directional reflects the market close on June 22, 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.