Home Options NVDAReports

NVDA

NVIDIA CorporationClose $196.51EOD only

Max Pain

$185.00

Next expiry Apr 15, 2026

Expected Move

±$3.04

1.6% from close

Price Gap

-11.51

Distance to max pain

IV Rank

High premium

P/C OI

0.87

Slightly call-heavy

Consensus

6.5/10

Consensus signal

Published snapshot: Apr 14, 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

Apr 14, 2026 close

NVDA Flow Report

Analysis based on market close April 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.2% from MP; +0.5 VIX 18.4

Watch next session: Intraday rebuild or further buying in $195–$200 calls (OI/flow on 4/17+ expiries); Put flow at $192.50-$190 for signs of defensive buying vs expiration pin action

Flow Summary

Net premium: +$1.1B bullish

P/C volume ratio: 0.42 — call-dominant on volume (strong)

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

Large, concentrated call buying dominated premium flow (notably at $195 and $200 strikes), producing a material bullish tilt. Dealers show heavy positive GEX (+$948.0M) which should create pinning pressure around the $195-$200 band while short-dated put activity likely reflects expiration hedging rather than a directional bet against the rally.

Notable Prints

NVDA 2026-05-29 $200.00 Call

Vol: 50,506

OI: 1,333

Vol/OI: 37.9x

IV: 39.8%

Notional: ~$47.8M

Intent: Directional call accumulation (multi-week bullish exposure)

Dual read: Aggressive buyer (bullish) or large structured seller/shedding long-dated exposure (neutral)

Read-through: High notional and large vol/OI indicate meaningful fresh bullish bets into May; complements net premium concentration at $200 and increases dealer positive delta exposure (reinforces pinning around $200).

NVDA 2026-04-15 $195.00 Call

Vol: 173,589

OI: 8,274

Vol/OI: 21.0x

IV: 25.5%

Notional: ~$40.3M

Intent: Short-dated directional call buying or rolling/covering into expiry

Dual read: Client bought to push gamma/directional exposure (bullish) or counterparties selling/overwriting existing stock exposure (neutral to mildly bullish)

Read-through: Very large expiry-day call flow concentrated at $195 — consistent with pinning to nearby max-pain/GEX; likely a mix of fresh bullish exposure and expiration management by institutions.

NVDA 2026-04-15 $192.50 Put

Vol: 74,213

OI: 570

Vol/OI: 130.2x

IV: 27.1%

Notional: ~$2.23M

Intent: Expiration-day protective puts / short-dated hedges

Dual read: Protective buys (defensive) or short-squeeze related buys to pin (gamma dealers hedging)

Read-through: Extremely high vol/OI on tiny OI indicates an expiration-focused trade — likely short-dated protective buys that will amplify dealer gamma hedging around ~$193-$195 but not a long-term bearish position.

NVDA 2026-04-15 $202.50 Call

Vol: 26,805

OI: 1,253

Vol/OI: 21.4x

IV: 30.0%

Notional: ~$0.48M

Intent: Short-dated directional call buying/roll

Dual read: Directional bullish or closing/rolling activity into nearby strikes

Read-through: Supports short-dated upside interest above spot; adds to the pin pressure around the $195-$200 band if sustained.

NVDA 2026-04-15 $190.00 Put

Vol: 65,389

OI: 2,823

Vol/OI: 23.2x

IV: 30.5%

Notional: ~$0.85M

Intent: Short-dated protective hedging or sale-to-open by market makers

Dual read: Protective buying (bearish tilt) or expiration-driven hedging that forces dealer gamma actions (mechanical)

Read-through: High expiry put flow near $190 will increase hedging flows into close; on balance looks like expiration-related protection rather than a conviction bet to push price lower.

Institutional Positioning

Call additions: $195-$200 strikes are the primary call accumulation zone across short and medium-dated expiries (heavy premium at $200; $195 concentrated on 4/15), with additional interest up to $210/$215 on longer-dated chains.

Put additions: Puts are concentrated far below spot (notably $140 OI = 82,750) and short-dated protective buys at $190-$192.50; overall put flow is smaller in premium terms versus calls.

GEX/DEX consistency: Yes — positive Total GEX $+948.0M and DEX +435.6M shares align with bullish call-dominant flow and create a pinning regime around the $195-$200 band.

OI clusters: $195 call cluster (OI 104,350) and $190 (102,611 OI) / $185 (95,189 OI) on the call side create a dense call-wall region; large put OI concentrated at $140 creates a distant structural floor but not an immediate support band.

Hedging evidence: Evidence of short-dated protective puts (4/15 $192.50 and $190) consistent with expiration hedging; minimal evidence of large collar programs — flows look more like directional call buying plus tactical short-dated put hedges.

Max pain context: Max pain near-term sits at $185 for 4/15 and 4/20 but the spot is above MP and dealer positive GEX is producing pinning toward the $195-$200 area rather than immediate drift to $185.

Signal vs Noise

~Large volume on 4/15 expirations (e.g., $195 calls, $192.50 puts, $190 puts) likely contains significant expiration/roll and gamma pin activity — interpret as pinning/hedging rather than pure directional conviction.

~Some long-dated put print volumes are tiny relative to OI (e.g., $140 put OI large but low short-term trade volume) — structural protection, not short-term bearish flow.

~High vol/OI ratios on very low OI strikes (e.g., $192.50 put vol/OI 130x) indicate expiration-driven trades; treat as transient gamma/hedge triggers, not durable positioning shifts.

~Large call premium at $200 includes multi-expiry accumulation — if concentrated in long-dated options some prints may be structured (buy-writes, collars) rather than outright directional calls.

Key Conclusions

🐂Net premium strongly bullish: $1.1B in net premium with P/C volume 0.42 — calls are dominating flow, focused at $195-$200.

📌Pinning zone emerging at $195-$200: GEX concentrations (+$149.9M at $195; +$96.8M at $200) and concentrated call OI create a dealer magnet in the next sessions.

⏳Expiration dynamics are loud: multiple huge vol/OI prints on 4/15 show expiry hedges and gamma flows that can amplify intraday moves without signaling longer-term reversal.

🧭Follow $195-$200 call activity and rebuilds in OI — continued accumulation confirms the bullish thesis and dealer-supported pin; failure to hold $190-$192 would invalidate it.

🛡️Protective put buys at $190-$192.50 are present but appear defensive/short-dated — they increase dealer hedging but do not offset the dominant call-driven positive gamma.

Read the Flow analysis for NVDA for 2026-04-14. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.