NVIDIA Options Traders Eye $235 Strike as Unusual Call Activity Dominates Monday's Session

By TrendSpider Editor

A dominant call-side options sweep is drawing attention to NVIDIA Corporation on Monday, October 26, 2026, with a single $235 strike call contract generating over $1.09 million in premium alone. NVDA shares are trading at $216.425, up 2.59% on the session, reflecting broad buying interest that appea

NVIDIA Options Traders Eye $235 Strike as Unusual Call Activity Dominates Monday's Session

A dominant call-side options sweep is drawing attention to NVIDIA Corporation on Monday, October 26, 2026, with a single $235 strike call contract generating over $1.09 million in premium alone. NVDA shares are trading at $216.425, up 2.59% on the session, reflecting broad buying interest that appears to be spilling into the derivatives market. The stock sits well within its 52-week range of $164.27 to $243.37, leaving meaningful room to run before testing annual highs.

Key Drivers of the NVDA Stock Move

• Main Catalyst: Three unusual options contracts were flagged today, combining for $1,459,692.90 in total premium. The headline contract is a 2,871-lot call at the $235 strike expiring November 27, 2026, carrying $1,090,692.90 in premium with open interest utilization at 97%. Two additional contracts round out the unusual activity, including a notable 1,000-lot put at $197.50 expiring November 20, 2026.
• Bull Case: The $235 call expiring November 27, 2026 represents by far the largest premium commitment of the three contracts at $1,090,692.90, and at 97% of open interest signals a high-conviction directional bet. A move to $235 from the current price of $216.425 would represent a gain of roughly 8.6% over the next month, still below the 52-week high of $243.37.
• Bear Case: The 1,000-lot put at the $197.50 strike expiring November 20, 2026, carrying $330,100 in premium, is currently out of the money but represents a meaningful hedge or directional bet to the downside. A flush to $197.50 would mark a notable retreat toward the lower end of the 52-week range of $164.27.

The forward setup for NVDA is increasingly interesting as options traders position across multiple timeframes heading into late November 2026. The concentration of premium in the November 27 call suggests at least one large participant expects a catalyst or continued momentum within the next month. The near-term November 2 call at the $197.50 strike is already in the money at the current price of $216.425, indicating some traders are locking in or extending existing bullish exposure at lower strikes even as others reach for the $235 level. With the stock comfortably above the midpoint of its 52-week range, the options flow tilts bullish in both structure and premium weighting.

NVDA Unusual Options Activity

Three unusual contracts were flagged in Monday's session, totaling $1,459,692.90 in combined premium:

• Call, $197.50 strike, expiring November 2, 2026: Size of 20 contracts, open interest utilization of 667%, currently in the money.
• Put, $197.50 strike, expiring November 20, 2026: Size of 1,000 contracts, open interest utilization of 18%, currently out of the money.
• Call, $235 strike, expiring November 27, 2026: Size of 2,871 contracts, open interest utilization of 97%, currently out of the money. Premium of $1,090,692.90 makes this the dominant contract by a wide margin.

The standout detail on the November 2 call is its 667% open interest utilization, meaning volume dramatically exceeded existing open interest, a classic signal of fresh, aggressive positioning rather than a close or roll of an existing trade.

NVDA Seasonality

Historically, the final stretch of October into November has been an active period for semiconductor stocks as earnings season drives sector volatility and repositioning. Options activity concentrated in the November expiry window aligns with a period when traders typically seek defined-risk exposure ahead of year-end portfolio adjustments.

NVDA Relative Performance

NVDA's 2.59% gain on Monday places it in strong standing relative to broader market benchmarks on the session. Trading at $216.425 against a 52-week low of $164.27 and high of $243.37, the stock has recovered a substantial portion of its range and sits closer to the top half of that band, a constructive technical posture as unusual options activity picks up.