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NVDA

NVIDIA CorporationClose $223.47EOD only
Max Pain
$215.00
Next expiry May 22, 2026
Expected Move
±$13.18
5.9% from close
Price Gap
-8.47
Distance to max pain
IV Rank
51
Middle-high premium
P/C OI
0.81
Slightly call-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: May 20, 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
May 20, 2026 close
NVDA Earnings Report
Analysis based on market close May 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NVDA earnings with bullish flow, gamma pinning, and 100% beat rate. High IV offers premium opportunity.

Confidence:
8.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.9% from MP; +1 VIX 17
Most important: Call OI wall at $240-$250 is key resistance; put floor at $140 provides downside buffer.
📈100% beat rate (5/5 quarters) supports bullish historical bias.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above

Earnings Overview

Expected moves:

  • 2026-05-22 (2d): ±$13.17 (5.9%)
  • 2026-05-26 (6d): ±$14.10 (6.3%)
  • 2026-05-27 (7d): ±$14.60 (6.5%)

IV Setup

Term structure: Steep contango; short-dated IV >90%, weekly ~55%.

Crush estimate: 30-40% IV crush post-event.

Skew: Put skew elevated; call skew active at high strikes.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Moves in line with implied (~6%), but 100% beat rate suggests upside bias.

Directional bias: Bullish

Key Levels

1EM guardrails: 2d $210.30/$236.65; 1w $209.37/$237.57
2Max pain pins: $215 (2026-05-22); $220 (2026-05-26); $225 (2026-05-27)

Flow Highlights

Unusual call volume at $237.5 and $255 strikes (vol/OI >10).

Aggressive bullish positioning near resistance.

Block put buying at $227.5 and $202.5.

Hedging or bearish bets at key levels.

Net premium $864M, put/call vol ratio 0.46.

Overwhelming call bias.

Strategies

Iron Condor
Sell 2026-05-29 $215.00/$212.50 put wing and $240.00/$242.50 call wing
Credit: $1.11-$1.35
Max loss: $1.15
Max gain: $1.35
BE: 213.65 / 241.35
Trigger: Manage at $220 or $240; exit at 50% gain.
Best for high IV crush with defined risk and pinning levels.
Outperforms: Sells put and call wings to profit from IV contraction and range-bound move.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar
Sell 2026-05-29 $240.00 call / buy 2026-06-26 $240.00 call
Debit: $3.43-$4.19
Max loss: $4.19
Max gain: Variable
BE: Path-dependent
Trigger: Close if stock breaches $215; roll if needed.
Captures premium decay from short-term IV with bullish bias.
Outperforms: Sells short call, buys longer call to profit from IV term structure.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle
Sell 2026-05-29 $215.00 put + sell $240.00 call
Credit: $6.29-$7.69
Max loss: Unlimited
Max gain: $7.69
BE: 207.31 / 247.69
Trigger: Set stop at $207 or $248; hedge or close early.
Highest premium, but unlimited risk requires careful management.
Outperforms: Sells out-of-the-money put and call to collect elevated IV premium.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Post-earnings IV crush (30-40%).
!Gap risk: 100% beat rate not guaranteed.
!Gamma pinning near $215-$225 may cap initial move.

What to Watch

?Price reaction to $240 call wall.
?Gamma flip levels: $215 support, $225 resistance.
?Unusual $237.5 call (44.6x vol/OI) for directional signal.
How to Use These Reports
This earnings reflects the market close on May 20, 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.