Nvidia (NVDA) Options Signal Bullish Rebound: Key Strike Levels and Trade Setups for Dec 12–19 Expirations

• NVDA trades at $184.65, down 0.49% from its 52-week high of $185.55, but remains above critical 200D MA at $154.99
• Options market favors calls: Put/Call OI ratio at 0.885, with heavy call OI at $190, $200, and $220 strikes for Dec 12–19 expirations
• Block trades hint at institutional bullishness: 26,000-contract call buy at $175 strike (NVDA20250919C175) signals near-term conviction

Here’s the thing: NVDA’s options activity and technicals are painting a clear picture. The stock is testing support near $183.32 (intraday low) while call options at $190 and $200 strikes dominate open interest. This isn’t just noise—it’s a setup for a potential breakout. Let’s break down why this could be your best trade in December.

Bullish Imbalance in OTM Calls, Whale Moves at $175 Strike

The options market is all-in on a rebound. For this Friday’s expirations (Dec 12), the top call OI sits at $190 (145,407 contracts) and $200 (85,616), while next Friday’s (Dec 19) sees even heavier demand at $200 (106,491) and $235 (82,791). That’s not just retail FOMO—those numbers suggest institutional players are hedging or scaling up for a rally.

But here’s the twist: The largest block trade of the year so far—NVDA20250919C175—saw 26,000 calls bought at $175 strike. That’s a massive bet the stock will hold above $175 through September 2025. Combine that with the $190 and $200 call dominance, and you’re looking at a multi-tiered bullish case. The risk? If NVDA fails to hold above $180 (current 30D support at $179.40), the put-heavy OI at $180 and $175 could trigger a selloff.

China Chip Approval News: A Double-Edged Sword for Sentiment

The U.S. greenlighting H200 chip sales to China is a mixed bag. On one hand, it’s a revenue lifeline for Nvidia in a $10B+ market. On the other, Beijing’s push for domestic alternatives (like Huawei’s Ascend) and a 25% U.S. fee on those sales creates uncertainty. The stock’s 2% pop after the news was sharp but short-lived—price action shows traders are pricing in optimism but hedging against geopolitical risks.

This explains the options data: High call OI at $200+ reflects hopes for a post-approval rally, while the $180–$175 put cluster acts as a safety net if China’s regulatory pushback intensifies. The key here is timing—will the market reward the approval or punish the 25% fee over time?

Actionable Trade Ideas: Calls at $190 and $200, or a Bull Put Spread at $180

For options traders, the most compelling setups are:

• Buy-to-open NVDA20251212C190 (Dec 12 expiry): If NVDA breaks above $184.35 (middle Bollinger Band), this $190 call could catch a short-term pop. Implied volatility is already rising on the $190 strike.
• Buy-to-open NVDA20251219C200 (Dec 19 expiry): A longer-term play if the stock holds above $183.32. The $200 strike aligns with the 30D MA at $188.96, making it a logical target for a bounce.
• Bull put spread at $180: Sell NVDA20251219P180 and buy NVDA20251219P175 to capitalize on the put-heavy OI while capping downside risk.

For stock traders, consider:

• Entry near $183.32 (intraday low) if support holds. Target $190–$195 if the 30D MA ($188.96) breaks.
• Stop-loss below $180 (current 30D support range). If the stock dips here, it could trigger a test of the 200D MA at $154.99—not a target, but a warning sign.

Volatility on the Horizon: Watch the $190–$200 Call Cluster

The next 10 days will be critical. If NVDA holds above $184.35, the $190 and $200 call strikes could become catalysts for a rally. But if it dips below $180, the put-heavy OI at $175–$180 could accelerate a sell-off. Either way, the options market is pricing in a directional move—your job is to pick the side with the best risk/reward.

Bottom line: This isn’t a “buy and hold” setup. It’s a high-conviction trade for traders comfortable with tight stops and fast-moving volatility. The key is to act before the Dec 12 expirations lock in the current bullish sentiment—or risk getting left behind as the $200 call buyers cash in.