NVDA Unusual Options Activity: Two Bullish Call Contracts Surface With Over $1 Million in Total Premium

June 8, 2026

By TrendSpider Editor

NVDA Unusual Options Activity: Two Bullish Call Contracts Surface With Over $1 Million in Total Premium

NVIDIA Corporation is drawing attention in the options market on Monday, June 8, 2026, with two unusual call contracts generating a combined $1,063,439.10 in total premium. NVDA shares are trading at $209.14, up 1.97% on the session, and sit comfortably in the upper half of their 52-week range of $135.42 to $236.54. Both contracts are structured to the upside, reinforcing a bullish directional lean from options traders heading into the back half of June.

Key Drivers of the NVDA Stock Move

Main Catalyst: Two unusual call contracts were flagged today totaling $1,063,439.10 in premium. The dominant position is a $205 strike call expiring July 2, 2026, with a size of 900 contracts and an open interest utilization of 39%, currently in the money. A second contract covers the $220 strike expiring June 12, 2026, with a size of 501 contracts and a 1% open interest reading, currently out of the money.
Bull Case: The larger of the two contracts is already in the money at the $205 strike with NVDA trading at $209.14, signaling that the buyer has immediate intrinsic value on their side. The $1,018,800 in premium committed to a single near-term call reflects a high-conviction bet that NVDA holds or extends its current price level through July 2.
Bear Case: The $220 strike call expiring June 12, 2026, is out of the money and has only four days until expiration, making it a high-risk, time-sensitive wager. NVDA would need to rally more than 5% from current levels in a very short window to put that contract in the money, and the 1% open interest reading suggests limited broader conviction behind that specific position.

NVDA has climbed significantly off its 52-week low of $135.42 and is now trading roughly 11.6% below its 52-week high of $236.54, leaving room for additional upside if momentum holds. The options flow today is entirely call-sided, with no put contracts flagged among the unusual activity, which reinforces a near-term bullish posture from active traders. The concentration of premium in the July 2 expiry suggests participants are positioning for continued strength through the end of June and into early July, a window that historically captures significant institutional rebalancing activity. With NVDA sitting above the $205 strike and the broader AI hardware narrative still intact, the forward setup favors bulls as long as the stock maintains its footing above that level.

NVDA Unusual Options Activity

Contract 1: Call | Strike: $205 | Expiry: July 2, 2026 | Volume: 900 | Open Interest Utilization: 39% | Status: In the Money | Premium: $1,018,800
Contract 2: Call | Strike: $220 | Expiry: June 12, 2026 | Volume: 501 | Open Interest Utilization: 1% | Status: Out of the Money | Premium: $44,639.10

Total unusual contracts flagged: 2. Total combined premium: $1,063,439.10. Net directional lean: Bullish, with 100% of flagged contracts on the call side.

NVDA Seasonality

Early June has historically been an active period for NVDA as the stock tends to see increased volatility heading into mid-summer, driven by institutional portfolio adjustments and forward guidance expectations. Options positioning concentrated around late June and early July expirations is consistent with traders seeking exposure ahead of that seasonal window.

NVDA Relative Performance

NVDA is outperforming on a session basis with a gain of 1.97% as of today, June 8, 2026. Trading at $209.14 against a 52-week range of $135.42 to $236.54, the stock has recovered a substantial portion of its range from the annual low and remains in a technically elevated position. The current price places NVDA approximately 54.4% above its 52-week low, reflecting the strong demand cycle the company has sustained over the past year.