NVDA Stock: Unusual Options Activity Emerges as NVIDIA Trades Near 52-Week Highs

By TrendSpider Editor

NVDA market update based on latest unusual_options data.

NVDA Stock: Unusual Options Activity Emerges as NVIDIA Trades Near 52-Week Highs

Two unusual options contracts totaling $1,273,738.70 in combined premium surfaced for NVIDIA Corporation, drawing attention to both near-term upside bets and a significant downside hedge. NVDA shares are currently trading at $182.72, up 1.48% on the session, and sit comfortably in the upper half of their 52-week range of $86.63 to $212.19. The options activity, spanning strikes from $140 to $190 and expirations ranging from tomorrow through June, signals that smart money is positioning for potential volatility in both directions.

Key Drivers of the NVDA Stock Move

• Main Catalyst: Two unusual options contracts were flagged on NVDA today. A call at the $190 strike expiring March 6, 2026 saw a size of 717 contracts with open interest participation at just 1%, while a put at the $140 strike expiring June 18, 2026 printed a size of 3,077 contracts at 4% of open interest. The put contract alone accounted for $1,246,492.70 of the total $1,273,738.70 in premium, making it the dominant trade by far.
• Bull Case: The $190 call expiring tomorrow suggests at least one trader is positioning for a quick move higher through $190, implying a roughly 4% gain from the current price of $182.72. With the 52-week high sitting at $212.19, there is meaningful room to the upside if bullish momentum accelerates.
• Bear Case: The heavily weighted put at $140 expiring in June 2026 represents a notable downside hedge, with the strike sitting approximately 23% below the current price of $182.72. The sheer size of 3,077 contracts and the $1,246,492.70 in premium deployed suggest a well-capitalized trader is protecting against or speculating on a significant pullback over the next three and a half months.

The options flow arrives as NVIDIA continues to command attention across the AI and semiconductor landscape. The juxtaposition of a short-dated call and a longer-dated, deep out-of-the-money put points to a bifurcated market view: one camp expects near-term continuation of the rally, while another is paying up for protection well below current levels. With NVDA having already recovered substantially from its 52-week low of $86.63, the forward setup is one where any macro headwinds, supply chain updates, or commentary around data center demand could quickly become the deciding factor in which side of this trade plays out. Traders and investors should watch for any catalysts over the coming sessions that could accelerate a move toward either the $190 area or, over a longer horizon, test the resolve of the $140 put position.

NVDA Unusual Options Activity

• Contract 1: Call | Strike: $190 | Expiry: March 6, 2026 | Volume: 717 | Open Interest: 1% (OTM)
• Contract 2: Put | Strike: $140 | Expiry: June 18, 2026 | Volume: 3,077 | Open Interest: 4% (OTM)

A total of 2 unusual contracts were flagged across both the call and put sides, with the put contract representing the overwhelming majority of activity by both size and premium. The $140 put carries $1,246,492.70 in premium, while the $190 call accounts for $27,246 of the total $1,273,738.70 in combined premium flagged today.

NVDA Seasonality

Early March has historically represented a transitional period for semiconductor stocks, as the market begins to digest forward guidance from the prior earnings cycle and institutional portfolios rebalance heading into the spring quarter. Options positioning of the type seen today, with a short-dated call and a multi-month put, is consistent with traders managing risk around a period where momentum can shift quickly based on macro and sector-specific news flow.

NVDA Relative Performance

NVDA is up 1.48% on the session at $182.72, trading in the upper tier of its 52-week range of $86.63 to $212.19. The stock has more than doubled from its 52-week low, reflecting continued investor confidence in NVIDIA's positioning within the AI and accelerated computing markets. The current price represents approximately 86% of the 52-week high, suggesting the stock has recaptured significant ground but still has roughly 16% to go before challenging that prior peak.