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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 Theta 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.

Theta Verdict

Confidence:

9 / 10

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

IV Environment

IV Regime

High

IV vs VIX

IV (53.5%) significantly above VIX (16.7%)

Favorable?

Yes

Term structure: Near-term skew extremely steep; back months contango

📈IV elevated relative to VIX, indicating high premium opportunity but elevated risk

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+432.5M)

OI concentrations: Max pain $215 for 5/22; call wall $230-$250; put floor $140

Verdict: Pinning likely near $215-$220 zone

Premium Opportunities

Call credit spread

Sell 2026-06-18 $220.00/$223.00 call spread

Sell $220/$223 call spread for net credit, targeting IV crush and pinning near $215-$220.

Credit: $0.99-$1.21

Max loss: $1.79

BE: $221.21

Mgmt: Exit if spot breaks above $220; take profit at 50% max gain.

Iron condor

Sell 2026-06-12 $210.00/$200.00 put wing and $220.00/$225.00 call wing

Sell $210/$200 put wing and $220/$225 call wing for net credit, profiting if spot stays in $200-$220.

Credit: $4.06-$4.96

Max loss: $5.04

BE: 205.04 / 224.96

Mgmt: Adjust wings if pinning shifts; close at 50% of max gain or near expiration.

Risk Alerts

!Risk of IV crush if pinning holds

!Skew risk from elevated put IV near expiration

How to Use These Reports

This theta 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.