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NVDA

NVIDIA CorporationClose $206.84EOD only
Max Pain
$210.00
Next expiry Jul 27, 2026
Expected Move
±$4.15
2.0% from close
Price Gap
+3.16
Distance to max pain
IV Rank
7
Low premium
P/C OI
0.82
Slightly call-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jul 24, 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
Jul 24, 2026 close
NVDA Theta Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 9, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short put spreads
Invalidation: Break below $200 support or above $220 resistance.
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.9% from MP; +0.5 VIX 20

IV Environment

IV Regime
Normal
IV vs VIX
IV at 49.6% vs VIX 19.9, ratio ~2.5, elevated.
Favorable?
Yes

Term structure: Near-term put skew extreme (1d 61%, 3d 89%), inversion signals hedging demand.

⚡Put skew 1d at 61% vs call 47%, downside hedging.
📌Max pain $210, spot at MP, pinning likely.
📈GEX +$433.8M bullish dealer hedging.

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+433.8M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 99,960 (3.9% below spot)

OI concentrations: Max pain $210; Put OI 99,960 at $200; Call wall $220-$230.

Verdict: Spot at max pain with heavy put OI below, high pin risk to hold $210.

Premium Opportunities

#1
Put credit spread
Sell 2026-07-02 $200.00/$195.00 put spread
Sells put spread to collect premium from high IV and put skew.
Credit: $1.26-$1.54
Max loss: $3.46
BE: $198.46
Mgmt: Close below $200; roll if near expiration and OTM.
#2
Iron condor
Sell 2026-07-17 $200.00/$195.00 put wing and $210.00/$215.00 call wing
Sells iron condor around max pain for low volatility environment.
Credit: $3.47-$4.24
Max loss: $0.76
BE: 195.76 / 214.24
Mgmt: Adjust wings if price approaches boundaries; close on IV crush.

Risk Alerts

!Expiration pin risk: spot near $210 max pain with large put OI at $200.
!Gamma flip at $200: break below could accelerate selling.
!Near-term put skew extremely high, tail risk elevated.
How to Use These Reports
This theta reflects the market close on June 9, 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.