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NVDA

NVIDIA CorporationClose $228.87EOD only
Max Pain
$222.50
Next expiry Sep 23, 2026
Expected Move
±$3.14
1.4% from close
Price Gap
-6.37
Distance to max pain
IV Rank
7
Low premium
P/C OI
1.44
Slightly put-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Sep 22, 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 22, 2026 close
NVDA Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 24, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Short put credit spreads
Invalidation: Break below $185 gamma flip
Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +0.5 spot 1.7% from MP; +0.5 VIX 19

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 48% vs VIX 18.6, high premium
Favorable?
Yes

Term structure: Mixed: 0 DTE low (14%), 2 DTE high (38%), then contango

⚠️0 DTE IV 14% abnormally low, possible pinning

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-18.1M)

Gamma flip: ~$185.00 — Approx — based on put OI concentration of 68,402 (7.0% below spot)

OI concentrations: Max pain: $202 (0DTE), $208 (2DTE), $205 (5DTE). Put floor $180-185.

Verdict: Concentrated OI near spot; high pin risk for 0 DTE

Premium Opportunities

#1
Short strangle
Sell 2026-08-21 $190.00 put + sell $215.00 call
Sell out-of-the-money put and call to collect premium, betting on range-bound price action near earnings.
Credit: $12.85-$15.70
Max loss: Unlimited
BE: 174.30 / 230.70
Mgmt: Monitor gamma exposure; roll wings if spot approaches strikes; consider closing before earnings.

Risk Alerts

!Negative dealer gamma (-$18M) amplifies moves
!Spot within 1.7% of max pain
!High put IV skew on near-term expirations
How to Use These Reports
This theta reflects the market close on June 24, 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.