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NVDA

NVIDIA CorporationClose $219.51EOD only

Max Pain

$215.00

Next expiry May 22, 2026

Expected Move

±$4.50

2.0% from close

Price Gap

-4.51

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.80

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

NVDA Flow Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 6, 2026. A newer flow report is available for May 21, 2026.

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Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning)

Watch next session: $180.00 call OI buildup; Put flow at $175.00

Flow Summary

Net premium: +$85.0M bullish

P/C volume ratio: 0.90 — moderate call lean

P/C OI ratio: 0.90 — balanced positioning

Strong net premium bullish despite balanced P/C ratios, with GEX pinning at $177.50-$180.00. Flow shows call buying near spot and put selling for premium capture.

Notable Prints

NVDA 2026-04-08 $177.50 Call

Vol: 38,695

OI: 4,865

Vol/OI: 8.0x

IV: 35.8%

Notional: ~$74.3M

Intent: Fresh directional call buying near spot

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: Massive volume at near-ATM strike suggests institutional positioning for upside. Consistent with $22.6M net premium at $180.00.

NVDA 2026-04-08 $175.00 Put

Vol: 30,642

OI: 5,521

Vol/OI: 5.5x

IV: 38.4%

Notional: ~$28.5M

Intent: Put selling for premium capture

Dual read: Sold (bullish/neutral) or bought (bearish)

Read-through: High volume with OTM puts suggests selling to collect premium, not bearish positioning. Aligns with net premium bullish flow.

NVDA 2026-05-22 $175.00 Put

Vol: 2,568

OI: 255

Vol/OI: 10.1x

IV: 40.1%

Notional: ~$22.9M

Intent: Long-dated protective put or put spread leg

Dual read: Bought (hedge) or sold (premium)

Read-through: Unusual activity in May expiration suggests longer-term hedging or structured trade, not immediate directional bet.

NVDA 2026-04-08 $172.50 Call

Vol: 9,724

OI: 1,578

Vol/OI: 6.2x

IV: 45.1%

Notional: ~$54.5M

Intent: ITM call buying or roll

Dual read: Bought (bullish) or sold/rolled (neutral)

Read-through: High volume in ITM calls could be rolling from lower strikes or fresh bullish positioning below spot.

NVDA 2026-04-08 $187.50 Call

Vol: 6,396

OI: 1,498

Vol/OI: 4.3x

IV: 37.5%

Notional: ~$0.3M

Intent: OTM call buying for leverage

Dual read: Bought (bullish) or sold (neutral/bearish)

Read-through: Small notional but high volume suggests retail/speculative interest above expected move.

Institutional Positioning

Call additions: $177.50-$180.00 calls in April expirations, plus $150.00 and $195.00 calls per premium flow

Put additions: Minimal protective put buying; $175.00 put selling dominates near-term

GEX/DEX consistency: Yes — positive GEX of $+389.1M aligns with bullish net premium and pinning regime

OI clusters: $180.00 call wall (8,764 OI), $177.50 call cluster (4,865 OI), $167.50-$175.00 put floor (6,132-5,521 OI)

Hedging evidence: Limited; some May $175.00 put activity but small relative to call flow

Max pain context: MP at $172-$175 near-term, spot above at $177.64 creating pinning pressure upward

Signal vs Noise

~Large put volumes at $175.00 and $177.50 are likely premium selling, not bearish bets

~$157.50 put volume (1,885) is deep OTM and small notional — noise

~Far OTM calls ($75.00, $790.00) in premium flow are likely spreads or legacy positions, not directional

Key Conclusions

🐂Net premium +$85.0M strongly bullish with GEX pinning at $177.50-$180.00

📌Gamma pinning regime suggests spot likely to gravitate toward $180.00

🛡️Put selling dominates near-term, indicating lack of bearish conviction

How to Use These Reports

This flow reflects the market close on April 6, 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.