NVIDIA Sees $3.1 Million in Bullish Call Activity as Stock Climbs Toward 52-Week High

By TrendSpider Editor

Two notable call contracts totaling over $3.1 million in combined premium swept through NVIDIA's options market Thursday, signaling near-term bullish conviction as the stock trades at $220.14, up 2.51% on the session. Both contracts expire Friday, June 5, 2026, reflecting aggressive short-dated posi

NVIDIA Sees $3.1 Million in Bullish Call Activity as Stock Climbs Toward 52-Week High

Two notable call contracts totaling over $3.1 million in combined premium swept through NVIDIA's options market Thursday, signaling near-term bullish conviction as the stock trades at $220.14, up 2.51% on the session. Both contracts expire Friday, June 5, 2026, reflecting aggressive short-dated positioning just below the 52-week high of $236.54. With NVDA trading well above the 52-week low of $135.42, today's options flow arrives as the stock continues to push toward the upper end of its annual range.

Key Drivers of the NVDA Stock Move

• Main Catalyst: Two call contracts with a combined premium of $3,120,402.90 were flagged as unusual activity. A $215 strike call expiring June 5, 2026 saw 5,499 contracts trade against just 14% open interest, generating $3,019,500.90 in premium. A separate at-the-money $220 strike call expiring the same day printed 502 contracts at $100,902 in premium.
• Bull Case: The dominant $215 strike call is in-the-money with NVDA sitting at $220.14, meaning buyers are paying for intrinsic value with only one day left on the contract. The sheer size of 5,499 contracts relative to a 14% open interest ratio suggests new, aggressive positioning rather than a close of existing trades, consistent with a directional bet that NVDA holds or extends gains into Friday's close.
• Bear Case: Both contracts expire Friday, June 5, 2026, giving them essentially zero time value cushion. A reversal of today's 2.51% gain or any overnight weakness would rapidly erode or eliminate the value of these positions. With NVDA still roughly $16 below its 52-week high of $236.54, resistance overhead remains a real risk for short-dated call holders.

The forward setup into Friday's session will hinge on whether today's momentum can hold. The concentration of premium in the expiring $215 call suggests a trader or institution is either locking in gains on an existing equity position through a synthetic unwind or making an outright directional bet that NVDA does not pull back before the close tomorrow. The lack of any put activity in today's unusual flow reinforces the one-sided bullish character of the trade. Broader context around NVIDIA remains constructive given the stock's position near the top of its 52-week range, and any continuation of the current move would push NVDA meaningfully closer to the $236.54 annual high established over the past year.

NVDA Unusual Options Activity

Two call contracts were flagged in Thursday's session, both expiring Friday, June 5, 2026:

• Contract 1: Call | Strike: $215 | Expiry: June 5, 2026 | Volume: 5,499 | Open Interest: 14% | Status: In-the-Money | Premium: $3,019,500.90
• Contract 2: Call | Strike: $220 | Expiry: June 5, 2026 | Volume: 502 | Open Interest: 1% | Status: At-the-Money | Premium: $100,902.00

Total unusual premium across both contracts reached $3,120,402.90, with zero put contracts flagged. The directional lean is entirely to the upside, with the $215 ITM call accounting for roughly 97% of the total premium flow. The low open interest percentages on both contracts indicate the majority of volume represents new positioning opened Thursday rather than existing trades being closed out.

NVDA Seasonality

Early June has historically been an active period for NVIDIA given the proximity to major technology conferences and mid-year portfolio rebalancing by institutional investors. Short-dated call activity of this magnitude near the end of a strong up-day is consistent with seasonal patterns where momentum traders look to extend gains in the final sessions of a strong week.

NVDA Relative Performance

NVIDIA's 2.51% gain Thursday puts it among the stronger movers in the large-cap semiconductor space for the session. Trading at $220.14, NVDA sits approximately 62.6% above its 52-week low of $135.42 and about 6.9% below its 52-week high of $236.54, suggesting the stock has recovered the vast majority of any prior drawdown and is positioned near the top of its annual range relative to broader equity benchmarks.