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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

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 Flow Report

Analysis based on market close May 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

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

Watch next session: 237.5 call strike; 227.5 put strike; QQQ momentum

Flow Summary

Net premium: +$864.6M bullish

P/C volume ratio: 0.46

P/C OI ratio: 0.81

NVDA sees strong bullish flow with $864M net premium and low 0.46 P/C volume ratio. Unusual buying in 5/27 237.5C and 255C. Positive gamma $603M supports pinning near current levels. High VIX 17.44 adds to bullish case. Sustained rally above MP favors further upside.

Notable Prints

NVDA 2026-05-27 $237.50 Call

Vol: 13,465

OI: 302

Vol/OI: 44.6x

IV: 58.5%

Notional: ~$3.8M

Intent: Bullish speculation

Dual read: Or short covering

Read-through: Expects price above $237.5 by 5/27

NVDA 2026-05-27 $227.50 Put

Vol: 1,863

OI: 126

Vol/OI: 14.8x

IV: 55.5%

Notional: ~$1.8M

Intent: Bearish hedging

Dual read: Or directional put buying

Read-through: Expects price below $227.5 by 5/27

NVDA 2026-05-22 $255.00 Call

Vol: 88,436

OI: 7,735

Vol/OI: 11.4x

IV: 90.4%

Notional: ~$4.0M

Intent: Aggressive OTM call buying

Dual read: Or closing of short calls

Read-through: Expects extreme move above $255 by 5/22

NVDA 2026-05-29 $125.00 Put

Vol: 10,188

OI: 1,048

Vol/OI: 9.7x

IV: 121.9%

Notional: ~$20K

Intent: Tail risk hedge

Dual read: Lottery ticket

Read-through: Expects crash below $125 by 5/29

NVDA 2026-05-27 $202.50 Put

Vol: 1,620

OI: 169

Vol/OI: 9.6x

IV: 56.9%

Notional: ~$170K

Intent: Bearish put buying

Dual read: Or put selling

Read-through: Expects price below $202.5 by 5/27

Institutional Positioning

Call additions: Heavy call buying at $237.5, $255 strikes; also deep ITM $160 call

Put additions: Moderate put buying at $202.5, $207.5, $200 strikes

GEX/DEX consistency: Consistent: positive GEX ($603M) and DEX (+444M shares) align with bullish flow

OI clusters: Largest OI near $225 MP; call OI building at $237.5, $255

Hedging evidence: Puts at $200-207.5 indicate downside hedging

Max pain context: MP ~$225; spot above, pinning expected

Signal vs Noise

~Signal: high vol/OI ratio on $237.5 call (44.6x) indicates aggressive bullish positioning

~Signal: net premium +$864M, put/call volume 0.46 reflect strong call demand

~Signal: consistent GEX/DEX positive, bullish regime

~Noise: single large put trades may be hedges, not directional bearish bets

Key Conclusions

📈Institutions adding calls at $237.5 and $255; call flow dominant

🔒Positive GEX/DEX and low put/call ratio reinforce bullish bias

⚠️Put hedging at $200-207.5 suggests caution, but not bearish reversal

How to Use These Reports

This flow 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.