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NVDA

NVIDIA CorporationClose $227.38EOD only
Max Pain
$217.50
Next expiry Sep 23, 2026
Expected Move
±$4.42
1.9% from close
Price Gap
-9.88
Distance to max pain
IV Rank
1
Low premium
P/C OI
0.90
Balanced positioning
Consensus
8.5/10
Bullish tilt
Published snapshot: Sep 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
Sep 21, 2026 close
NVDA Theta Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 23, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Put Credit Spreads
Invalidation: Spot breaks below $200 gamma flip or above $220 call wall
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.7% from MP; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
Elevated relative to VIX 19.5
Favorable?
Yes

Term structure: Elevated near-term IV, flattens after 1W

📈GEX +$64.5M bullish flow
📌Max pain $210, gamma flip $200

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+64.5M)

Gamma flip: ~$200.00 — Approx — based on put OI concentration of 107,066 (0.0% below spot)

OI concentrations: Put floor $180-$185, call wall $220-$300

Verdict: Pin risk moderate; $210 resistance

Premium Opportunities

#1
Put credit spread
Sell 2026-08-21 $190.00/$175.00 put spread
Sell $190/$175 put spread to capture IV premium while managing risk
Credit: $3.56-$4.35
Max loss: $10.65
BE: $185.65
Mgmt: Monitor spot; exit if NVDA breaks below $200 invalidation.
#2
Iron condor
Sell 2026-08-21 $185.00/$165.00 put wing and $225.00/$250.00 call wing
Sell $185/$165 puts and $225/$250 calls to profit from range-bound move.
Credit: $6.11-$7.47
Max loss: $17.53
BE: 177.53 / 232.47
Mgmt: Manage wings if spot approaches strike boundaries.

Risk Alerts

!Spot 4.7% below max pain
!Elevated put IV near term
How to Use These Reports
This theta reflects the market close on June 23, 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.