NVIDIA Options Traders Pile Into December Calls With $2.2M in Bullish Premium

By TrendSpider Editor

Unusual options activity in NVIDIA Corporation flagged three call contracts on Monday, June 22, 2026, with total premium across all contracts reaching $2,238,537. The standout trade is a $2,165,133.60 call sweep targeting the $228 strike expiring December 18, 2026, representing the bulk of today's u

NVIDIA Options Traders Pile Into December Calls With $2.2M in Bullish Premium

Unusual options activity in NVIDIA Corporation flagged three call contracts on Monday, June 22, 2026, with total premium across all contracts reaching $2,238,537. The standout trade is a $2,165,133.60 call sweep targeting the $228 strike expiring December 18, 2026, representing the bulk of today's unusual flow and signaling that at least one large trader is positioning for a meaningful rally over the next six months. NVDA shares are nearly flat on the session at $210.645, a decline of just 0.02%, and sit well within their 52-week range of $142.03 to $236.54, leaving room toward the upside before testing annual highs.

Key Drivers of the NVDA Stock Move

• Main Catalyst: Three unusual call contracts were flagged today totaling $2,238,537 in premium. The largest is a December $228 call with 1,083 contracts and open interest utilization of just 5%, suggesting this is a fresh position rather than a roll or close. A near-term $210 call expiring today with 512 contracts and an at-the-money structure also drew attention, as did a July $212.50 call with only 34 contracts but a striking 1,000% of open interest, indicating a significant surge relative to existing positioning.
• Bull Case: The December $228 call alone carries $2,165,133.60 in premium, making it a high-conviction directional bet that NVDA trades above $228 by mid-December 2026. At $210.645 today, that strike sits roughly 8.2% above the current price. The 1,000% open interest reading on the July $212.50 contract suggests unusual urgency in near-term upside positioning as well.
• Bear Case: All three contracts are calls, meaning there is zero put activity flagged today, which could indicate a one-sided, potentially crowded trade. The at-the-money $210 call expires today, June 22, 2026, leaving virtually no time value and pointing to a same-day tactical bet rather than a sustained bullish thesis. Open interest utilization on the December contract is only 5%, meaning the position is small relative to existing open interest and may not reflect broader institutional conviction.

The forward setup for NVDA into year-end hinges on sustained momentum in AI infrastructure spending, where NVIDIA remains the dominant hardware supplier. The concentration of premium in the December $228 strike suggests traders are looking past near-term volatility and betting on continued strength through the second half of 2026. With the 52-week high sitting at $236.54, a move to $228 would represent a return close to all-time highs for the period. The relatively quiet session today, with shares down just 0.02%, gives no immediate directional signal from price action alone, making the options flow the more meaningful data point on this particular session.

NVDA Unusual Options Activity

Three call contracts were flagged as unusual today, with no put activity recorded. The breakdown is as follows:

• Contract 1: Call, $210 strike, expires June 22, 2026 (today). Volume: 512 contracts. Open interest utilization: 4%. At-the-money. Premium: $48,076.80.
• Contract 2: Call, $228 strike, expires December 18, 2026. Volume: 1,083 contracts. Open interest utilization: 5%. Out-of-the-money. Premium: $2,165,133.60.
• Contract 3: Call, $212.50 strike, expires July 17, 2026. Volume: 34 contracts. Open interest utilization: 1,000%. Out-of-the-money. Premium: $25,326.60.

The total premium across all three contracts is $2,238,537, with calls comprising 100% of today's flagged flow. The July $212.50 contract's 1,000% open interest reading is particularly notable, as it indicates today's volume is ten times the existing open interest, a strong signal of new and aggressive positioning in that expiry.

NVDA Seasonality

Late June historically marks the end of NVIDIA's fiscal Q2 period, a time when sentiment can shift as investors begin positioning ahead of earnings guidance updates later in the summer. Bullish call positioning in this window has sometimes preceded strong moves into the back half of the calendar year, particularly when AI demand trends remain intact.

NVDA Relative Performance

NVDA is essentially unchanged on the session at $210.645, down just 0.02%, reflecting a quiet Monday for the stock. Within its 52-week range of $142.03 to $236.54, the current price sits roughly 47% above the annual low and about 11% below the 52-week high, placing NVDA in the upper half of its annual range and giving credence to the near-high call positioning seen in today's options flow.