NVDA Stock: Unusual Options Flow Targets Near-Term Strikes as NVIDIA Climbs 2.71%

By TrendSpider Editor

Three unusual options contracts totaling $1,004,300 in premium have been flagged in NVIDIA Corporation stock today, with bearish put activity dominating the flow as shares trade at $177.62. The options cluster tightly around current price levels with expirations arriving in just four days, on March

NVDA Stock: Unusual Options Flow Targets Near-Term Strikes as NVIDIA Climbs 2.71%

Three unusual options contracts totaling $1,004,300 in premium have been flagged in NVIDIA Corporation stock today, with bearish put activity dominating the flow as shares trade at $177.62. The options cluster tightly around current price levels with expirations arriving in just four days, on March 27, suggesting traders are positioning for a short-term directional move rather than a longer-term thesis. At $177.62, NVDA sits well above its 52-week low of $86.63 but remains a notable distance from its 52-week high of $212.19, leaving room for movement in either direction heading into the end of the week.

Key Drivers of the NVDA Stock Move

• Main Catalyst: Three unusual options contracts were flagged today with a combined premium of $1,004,300. Two put contracts at the $175 strike expiring March 27 account for the bulk of the activity, with sizes of 3,167 and 998 contracts respectively, together representing $833,000 in premium. A single call contract at the $180 strike expiring March 27 rounded out the flow with $171,300 in premium.
• Bull Case: NVDA shares are up 2.71% today, and the $180 call contract expiring March 27 signals that at least some market participants expect the rally to continue and breach $180 before the week closes. The stock has already more than doubled off its 52-week low of $86.63, reflecting strong underlying demand.
• Bear Case: The put-heavy flow tells a more cautious story. The two $175 put contracts represent $833,000 of the $1,004,300 in total premium, indicating that the majority of unusual options activity is positioned for a pullback below $175 by Friday. With shares at $177.62, the $175 strike is only about $2.62 away, and the open interest reads of 6% and 2% suggest these are relatively fresh positions.

The forward setup for NVDA into the end of this week is binary. The stock has logged a solid single-session gain of 2.71% today, but the concentration of put premium at the $175 strike expiring just four days from now implies hedging or outright bearish bets are being placed against the near-term rally. With both the call and put strikes sitting within a tight $5 range of the current price, the options market appears to be pricing in a meaningful move before March 27 settlement. Investors will want to monitor whether today's momentum holds or fades as the week progresses and these contracts approach expiration.

NVDA Unusual Options Activity

• Contract 1: Call, $180 strike, expiring March 27, 2026 | Volume: 1,000 | Open Interest: 2% | Out of the money
• Contract 2: Put, $175 strike, expiring March 27, 2026 | Volume: 3,167 | Open Interest: 6% | Out of the money
• Contract 3: Put, $175 strike, expiring March 27, 2026 | Volume: 998 | Open Interest: 2% | Out of the money

Total unusual contracts flagged: 3. Total premium across all contracts: $1,004,300. Put contracts account for $833,000 of that total, with the call contributing $171,300. The net directional lean of today's unusual flow is bearish by premium weight, with puts representing approximately 83% of total spend.

NVDA Seasonality

Late March has historically been an active period for NVDA, as the stock approaches fiscal quarter-end and institutional rebalancing flows increase. Short-dated options activity like what was seen today often picks up in the final weeks of a quarter as traders hedge or speculate ahead of any pre-announcement news or broader market volatility.

NVDA Relative Performance

NVDA's 2.71% gain today is a strong single-session showing, particularly when viewed against its 52-week trading range of $86.63 to $212.19. At $177.62, the stock is trading in the upper half of that range, reflecting a recovery from the lows but still roughly 16% below the 52-week peak set at $212.19. Traders watching the broader semiconductor space will note that NVDA's move today outpaces what would typically be considered a routine session for large-cap tech, making the unusual options activity all the more notable given the backdrop of positive price momentum.