NVDA Options Signal Bullish Sentiment at $185–$190, But Put Block Trades Warn of Volatility as AI News Fuels Long-Term Optimism

• Options activity favors calls at $185–$190, with 80k+ open interest at key strike levels.
• Put block trades near $190 and $160 suggest institutional hedging or speculative positioning.
• Nvidia CEO’s AI partnership with ServiceNow sparks long-term optimism, but near-term technicals are mixed.

Nvidia (NVDA) is trading sideways as it tries to find its feet in a mixed market. But the options market tells a different story. While the stock is hovering just below its 30-day and 200-day moving averages—184.24 and 178.60 respectively—it’s the options activity that’s getting interesting. Calls are stacking up at $185 and $190, while heavy put buying at $160 raises red flags for potential volatility. Let’s dig into the numbers and see what’s really happening.

What the Options Chain Tells Us: Calls at $185, Puts at $160 Suggest a Battle for Control

Looking at this Friday’s options, the top call strikes are $185 (71,502 OI), $180 (75,465 OI), and $187.5 (56,152 OI). That’s a lot of interest at the 180–190 range. It’s like investors are saying, “Hey, we expect a breakout here.” The put side is quieter, but the top put is $150 with 86,398 open interest. But it’s the block trades that really stand out. A $190 put with 2,000 contracts traded quietly on Thursday—$3.1 million in turnover—signals big players are either hedging or shorting for a near-term dip.

And don’t forget the next Friday options. The $200 call has 42,670 OI, and the $160 put has 86,363 OI. That’s a big spread between bullish and bearish bets. If NVDA breaks out of its range, either direction, we could see a sharp move.

NVIDIA’s AI Strategy and News Fuel Long-Term Bullishness, But Short-Term Is a Battle

Jensen Huang’s recent comments at GTC 2026 couldn’t have come at a better time. His partnership with ServiceNow to push agentic AI into enterprise workflows is no small thing. He’s basically saying the future is AI assistants that work alongside humans, and Nvidia’s NIMs are the engines making that possible. That kind of vision doesn’t go unnoticed by institutional investors.

But here’s the catch: technicals don’t match the hype. The RSI is at 44, not screaming bullish or bearish. MACD is negative, with the signal line above the histogram, hinting at a potential sell-off if support breaks. The stock is in a tight range between the 171.79 (lower Bollinger) and 192.86 (upper Bollinger), and unless it breaks out decisively, this could be another false start.

Actionable Trading Ideas: Options for Breakouts, Stock for a Range-Bound Play

For options traders, the most compelling plays are in the $185 and $190 call space. NVDA20260327C185 (this Friday) and NVDA20260403C190 (next Friday) look like good candidates for a breakout bet. The first is in play if the stock breaks $185 before Friday, while the latter gives you a bit more time if the move is delayed.

On the short side, NVDA20260402P190 is a tempting short put if you’re bullish on the stock but want to hedge for a pullback. That $190 strike is where the block traders are active, and if the stock holds above it, the put could be a smart bet.

If you're trading the stock directly, consider longing NVDA near $176.50 if it holds above 175.98 (intraday low). A break above 180.02 (30-day support) would be a green light for entry. The target is $185–$187.50, where the options action is heavy. Stop-loss around $174–$173.98 (intraday low) would limit downside risk.

Volatility on the Horizon: A Tug-of-War Between AI Optimism and Short-Term Ranging

The next few days will be critical for NVDA. If the stock holds above $175 and breaks through the 180–185 range, the long-term AI narrative could kick in full force. But if it falls back below 174, the puts at $160 may become active again—and that’s not a place anyone wants to be. The market is split: some see a breakout, others a pullback. But with AI adoption accelerating and ServiceNow as a strategic ally, the long-term story for NVDA is strong—even if the next few days are a tightrope walk.

In the end, the key is to stay flexible. The options market is telling us to watch $185 and $190, and the stock is testing its range. That’s where the real action—and real opportunities—lie.