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NVDA

NVIDIA CorporationClose $211.14EOD only

Max Pain

$210.00

Next expiry Jun 1, 2026

Expected Move

±$5.36

2.5% from close

Price Gap

-1.14

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.80

Slightly call-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: May 29, 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 29, 2026 close

NVDA Flow Report

Analysis based on market close April 13, 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 13, 2026. A newer flow report is available for May 26, 2026.

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Flow Verdict

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 VIX 19

Watch next session: Activity and OI change at $190 (calls & puts) given +$102.3M GEX concentration there; Any follow-through call premium buying at $195-$200 (near-term call OI clusters) or large put prints at $182.50-$185

Flow Summary

Net premium: +$288.9M bullish

P/C volume ratio: 0.75 — call-dominant (moderate)

P/C OI ratio: 0.87 — moderate call lean in positioning

Flow is strongly bullish: large net premium ($288.9M) concentrated in calls around $187.50–$200. Dealers are long gamma (GEX +$899.7M), producing pinning behavior around $190 and $185. The combination of strong call premium flow plus positive GEX suggests dealer hedging will provide support into the near-term expiries.

Notable Prints

NVDA 2026-04-13 $190.00 Call

Vol: 244,854

OI: 20,444

Vol/OI: 12.0x

IV: 4.3%

Notional: ~$4.652B

Intent: Large expiry-day directional/close activity or block call buying into the 0d expiry; likely opening/closing of short-dated positions and dealer flow hedging

Dual read: Aggressive bought calls (bullish) or large close/rolls/assignment flows (neutral); very low IV and tiny last price ($0.01) implies these prints are expiry mechanics or block fills, not high-premium directional gamma trades

Read-through: Reinforces pinning pressure around $190 for today; given GEX concentration (+$102.3M at $190), dealers will be active hedgers maintaining price near this level absent a market catalyst.

NVDA 2026-04-13 $187.50 Call

Vol: 134,749

OI: 6,052

Vol/OI: 22.3x

IV: 10.9%

Notional: ~$2.526B

Intent: Expiry-day directional/roll/assignment activity—heavy ITM call volume into 0d expiry

Dual read: Could be fresh intraday call buys (bullish) or large position unwind/assignment; very high vol/OI ratio suggests concentrated event-driven activity rather than steady accumulation

Read-through: Supports immediate bullish bias intraday but signals expiry-driven technical flows rather than durable long-dated accumulation.

NVDA 2026-04-13 $187.50 Put

Vol: 143,918

OI: 7,362

Vol/OI: 19.6x

IV: 9.6%

Notional: ~$2.698B

Intent: Expiry-day put activity likely tied to hedging, pinning and option expiration mechanics (lots of matched call/put flow at same strike)

Dual read: Could be bearish put buying or closing of previously open short puts; paired with large call flow at same strike it reads as expiry/hedge flow more than directional conviction

Read-through: Large matched flows at $187.50 amplify intraday pin risk; watch close-of-day P/L-driven flows pushing price toward strikes with concentrated open interest ($185-$190).

NVDA 2026-04-15 $190.00 Call

Vol: 63,756

OI: 7,576

Vol/OI: 8.4x

IV: 25.3%

Notional: ~$1.211B

Intent: Near-term bullish directional buying or roll into 4/15 calls (fresh call accumulation into next expiry)

Dual read: Likely bought calls (bullish) or sellers opening to sell premium (neutral); IV ~25% and sustained call premium in Top Premium Flow point to genuine call demand

Read-through: This is a meaningful near-term bullish read — supports continuation above $187.50 toward $190–$195 if follow-through continues.

NVDA 2026-04-13 $190.00 Put

Vol: 30,900

OI: 3,056

Vol/OI: 10.1x

IV: 10.3%

Notional: ~$587.1M

Intent: Expiry-day protective/assignment flows — sizable but likely part of offsetting activity to the large call prints

Dual read: Could be fresh protective puts (bearish hedge) or put sellers being closed (bullish); context of dominant call premium favors the latter as part of expiration balancing

Read-through: Adds complexity to expiry picture but does not undo the broader call-dominant premium — looks like offsetting expiry mechanics creating localized pin risk.

Institutional Positioning

Call additions: $187.50-$200.00 calls concentrated across 4/13–4/15 expiries (Top Premium Flow: $187.50 net $35,905,326; $190 net $37,627,900; $200 net $29,216,774). Large call volume at $190 and $195 indicates institutions are adding short-dated bullish exposure.

Put additions: Puts are present but smaller in net premium terms at near-term strikes; put OI clusters at $185 and $180 exist (11,870 and 10,834 OI respectively) indicating protective interest but not dominant buying today.

GEX/DEX consistency: Yes — positive Total GEX $899.7M and DEX +403.7M shares align with bullish flow and pinning around $190/$185. GEX concentration +$102.3M at $190 supports dealer hedging that pins price.

OI clusters: $190 call cluster (multiple OI entries: 20,444 and 7,576) and $200 call cluster (~116k OI aggregated across listed $200 entries) create overhead call interest; put clusters at $185 (11,870 OI) and $180 (10,834 OI) create near-term support bands.

Hedging evidence: Yes — strong evidence of large-scale hedging and expiry mechanics: matched heavy call/put volumes at $187.50 and $190 on 4/13 indicate institutional rolling/hedge activity and dealer delta hedging. Minimal evidence of systematic collars; flows look more like directional call accumulation plus short-dated hedges.

Max pain context: Max Pain pins at $185 for 4/13 and 4/15 and $180 for 4/17 — combined with the falling MP trend and heavy GEX at $190, we see competing pin forces: dealers will try to pin near $190 while expirations and max pain tug toward $185–$180 over the coming week.

Signal vs Noise

~Large 4/13 volume at $187.50 and $190 (both calls and puts) is largely expiry mechanics/assignment/rolls — treat much of the 0d flow as noise for durable directional conviction.

~Very low trade IV and $0.01 last prints on many 4/13 strikes indicate block fills and closing trades rather than new volatility-seeking positions.

~Some high-volume prints are likely part of matched structures (straddle/strangle closes or pinning execution) — isolated volume without OI build should not be read as long-term accumulation.

~Dealer inventory adjustments tied to positive GEX (+$899.7M) are ongoing — dealer re-hedges can create intraday price support that is not institutional directional buying.

Key Conclusions

🐂Net premium strongly bullish: +$288.9M concentrated in calls (notably $187.50–$200) while P/C volume ratio is 0.75.

📌Pin risk centered at $190 and $185: GEX concentration +$102.3M at $190 will keep dealers hedging near that level; max pain at $185 exerts downward pull into expiries.

⚠️Much of today's largest prints are 0d/2d expiries (4/13–4/15) and show very low option IV/last prints, indicating expiration mechanics and roll activity — treat 4/13 flow as advective noise for longer-term positioning.

🔎Watch $190 OI and premium changes: additional call builds at $190–$195 would confirm bullish continuation; significant put accumulation or price break below $183.19 would invalidate thesis.

🧭Dealers are long gamma (GEX +$899.7M). Expect volatility to be dampened near the pin levels — intraday moves away from $185–$192.82 may be met with dealer hedging flows.

How to Use These Reports

This flow reflects the market close on April 13, 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.

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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.