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NVDA

NVIDIA CorporationClose $218.66EOD only
Max Pain
$215.00
Next expiry Jun 5, 2026
Expected Move
±$3.55
1.6% from close
Price Gap
-3.66
Distance to max pain
IV Rank
35
Middle-high premium
P/C OI
0.87
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 4, 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 4, 2026 close
NVDA Earnings Report
Analysis based on market close June 5, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NVDA far from earnings; near-term flow shows aggressive call buying for 6/8 expiry, but negative net premium and high vol regime warrant caution.

Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.6% from MP; +0.5 VIX 22
Most important: Heavy call accumulation at 205-210 strikes for 6/8 expiry.
📈Massive call accumulation at 205-210 for 6/8; premiums $0.86-$2.69.
⚠️Net premium -$21M suggests selling pressure; IV crush risk high.
📉Put protection active at 185-192.5 for July; macro risk elevated.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$200.00 — Approx — based on put OI concentration of 98,545 (2.5% below spot)

Earnings Overview

Next earnings: 2026-08-26 (82 days)explicit

Expected moves:

  • 2026-06-08 (3d): ±$5.15 (2.5%)
  • 2026-06-10 (5d): ±$8.10 (3.9%)
  • 2026-06-12 (7d): ±$9.98 (4.9%)

IV Setup

Term structure: Near-term IV elevated for 6/8 event; longer-term moderate.

Crush estimate: Post 6/8 expiry, IV crush ~20-30%.

Skew: Put skew elevated for downside protection.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A (insufficient data)

Directional bias: Historically bullish but not actionable for distant event.

Key Levels

1$200.00 gamma flip
2EM guardrails: 2d $199.95/$210.25; 1w $197.00/$213.20
3Max pain pins: $215 (2026-06-05); $215 (2026-06-08); $215 (2026-06-10)

Flow Highlights

Aggressive call buying on 6/8 205-210 strikes; net premium -$21M.

Bullish positioning for next week offset by put hedging.

Strategies

Iron Condor
Sell 2026-06-18 $195.00/$191.00 put wing and $215.00/$217.50 call wing
Credit: $1.35-$1.64
Max loss: $2.36
Max gain: $1.64
BE: 193.36 / 216.64
Trigger: Exit if spot breaches 200 or 220; adjust wings if IV spikes.
Best fit given heavy call buying at 205-210, call OI wall at 220+, gamma flip at 200, and macro headwinds limiting movement; harvest elevated IV.
Outperforms: Sell put wing below gamma flip and call wing under OI wall to capture premium from expected range-bound action.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar
Sell 2026-06-12 $215.00 call / buy 2026-07-17 $215.00 call
Debit: $5.35-$6.53
Max loss: $6.53
Max gain: Variable
BE: Path-dependent
Trigger: Monitor spot near 200; close if spot falls below invalidation level.
Exploits elevated near-term IV from aggressive call buying vs lower back-month vol; IV crush after 6/8 expiry benefits short front leg.
Outperforms: Sell front-month call at strike with heavy open interest, buy back-month call to capture vol term structure.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Macro headwinds: QQQ -4.8%, VIX 21.5.
!Gamma flip at $200; spot below max pain $215.
!Call OI wall $220-$230 caps upside.

What to Watch

?6/8 expiry: pin action near $215.
?Spot vs $200 gamma flip level.
?VIX movement post macro.
How to Use These Reports
This earnings reflects the market close on June 5, 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.