NVDA Options Traders Pile Into $210 Puts as Stock Slides 2.88% Toward 52-Week High

By TrendSpider Editor

Unusual options activity is flashing a cautious signal on NVIDIA Corporation as two notable contracts surfaced Tuesday, with a dominant put sweep at the $210 strike drawing the bulk of attention. NVDA shares are trading at $210.37, down 2.88% on the session, putting the stock just above its key $210

NVDA Options Traders Pile Into $210 Puts as Stock Slides 2.88% Toward 52-Week High

Unusual options activity is flashing a cautious signal on NVIDIA Corporation as two notable contracts surfaced Tuesday, with a dominant put sweep at the $210 strike drawing the bulk of attention. NVDA shares are trading at $210.37, down 2.88% on the session, putting the stock just above its key $210 level and well within range of its 52-week high of $216.82. Total premium across the two flagged contracts reached $1,015,399.90, with bearish positioning accounting for the overwhelming share of that flow.

Key Drivers of the NVDA Stock Move

The forward setup for NVDA is defined by the tension between a stock sitting near multi-month highs and options traders making a concentrated short-dated bearish wager. The $210 level is clearly a line in the sand this week. With the put expiring May 1 and the call expiring April 29, the market is pricing in a resolution to this tension within the next few trading sessions. If NVDA holds above $210 into the weekend, the put flow will expire worthless and bulls can point to consolidation near highs as constructive. A failure at this level, however, would validate the bearish positioning and could open the door to a more meaningful pullback from the 52-week high zone.

NVDA Unusual Options Activity

Two contracts were flagged as unusual on Tuesday, April 28, 2026:

The put contract at $210 accounts for 2,421 contracts expiring in just four days, with open interest participation of 23%, indicating this is a meaningful addition to existing positioning rather than a roll of a large pre-existing trade. Total unusual premium across both contracts was $1,015,399.90.

NVDA Seasonality

Late April and early May have historically been an active period for NVDA given the company's fiscal quarter reporting cadence and the broader technology sector's earnings season concentration. Short-dated options activity around this time of year often reflects traders hedging or speculating ahead of upcoming catalysts rather than purely directional conviction.

NVDA Relative Performance

NVDA is trading at $210.37 on Tuesday, down 2.88% on the session, yet remains positioned near the upper end of its 52-week range of $104.08 to $216.82. The stock is approximately 3% below its 52-week high of $216.82, meaning today's decline, while notable in isolation, has not materially damaged the longer-term technical picture. The stock's proximity to its annual peak distinguishes it from many large-cap peers that have struggled to reclaim prior highs in the current environment.

More on NVDA

Latest Market News