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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 May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.2% from MP; +1 VIX 17

Watch next session: $215-$220 pinning zone; Put flow at $190 for May 27 expiry

Flow Summary

Net premium: +$366.9M bullish

P/C volume ratio: 0.48

P/C OI ratio: 0.80

Bullish flow dominates with massive call buying at 217.5 and 220, driving positive gamma. Spot near dealer max pain, VIX elevated but not spiking. High confidence in continued upside bias.

Notable Prints

NVDA 2026-05-26 $217.50 Call

Vol: 58,235

OI: 1,333

Vol/OI: 43.7x

IV: 22.5%

Notional: ~$7.9M

Intent: Fresh bullish opening

Dual read: Could be call spread

Read-through: Bull on May 26.

NVDA 2026-05-22 $217.50 Call

Vol: 411,200

OI: 10,225

Vol/OI: 40.2x

IV: 9.8%

Notional: ~$411K

Intent: Closing or rolling existing positions

Read-through: Indicates position management, not directional.

NVDA 2026-05-27 $217.50 Call

Vol: 8,001

OI: 344

Vol/OI: 23.3x

IV: 28.3%

Notional: ~$1.7M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NVDA 2026-05-27 $170.00 Put

Vol: 3,682

OI: 188

Vol/OI: 19.6x

IV: 73.4%

Notional: ~$11K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NVDA 2026-05-26 $210.00 Call

Vol: 9,622

OI: 680

Vol/OI: 14.2x

IV: 25.6%

Notional: ~$5.7M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call buying at $217.5 and $220 for near-term expiries; 5/22 expired calls traded 800k+.

Put additions: Put accumulation at $190 and $215 for 5/26-5/27; hedging downside.

GEX/DEX consistency: Yes; GEX +$432.5M, DEX +426M shares align with bullish flow.

OI clusters: Largest OI: $220C (5/22, 37.9k), $217.5C (5/22, 10.2k), $220C (5/26, 8.6k), $215P (5/26, 4.1k).

Hedging evidence: Puts at $190 and $215 suggest protective collars or downside hedges.

Max pain context: Spot at MP; positive gamma pinning likely holds price near current levels.

Signal vs Noise

~Massive call volume on 5/22 expiries signals speculative positioning or closing.

~High volume on 0.01 premium calls likely noise from day trading.

Key Conclusions

📈Bullish flow dominates with heavy call buying and positive GEX; spot pinned at MP

🛡️Hedging via puts at $190 and $215 suggests caution on downside

How to Use These Reports

This flow reflects the market close on May 22, 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.