NVDA Call Dominance and $180 Strike Heat: Bullish Momentum and Block Trade Clues Signal Entry Point for April 2026

• Open interest in calls is 876K, nearly 100K more than puts.
• $180 and $182.5 calls dominate OI ahead of this Friday.
• Block trades on 172.5 and 177.5 strikes hint at institutional positioning.
• RSI at 42 suggests NVDA is near a technical rebound zone.

If you’ve been watching the Nvidia options chain lately, you’ve noticed a clear story forming. Calls are in favor, OI is stacking up at key price levels, and there’s a hint of heavy lifting from block traders. Combine that with a RSI reading in oversold territory and a stock price that just broke above its 200-day average, and you’ve got a compelling case for a near-term rally — if you know where to look. Let’s unpack it.

Options Sentiment and the Bullish Signal at $180

The options market is speaking in bold, if not loud, terms. For Friday’s expirations, the top call strike by open interest is the $180 strike, followed closely by $182.50. That’s not just bullish — it’s directional. Traders are betting that NVDA is about to break above its 200-day range. And they’re doing it in volume.

Meanwhile, put OI remains relatively low, with the top put strike at $160 having an open interest of just 51K. That’s not to say puts are meaningless — they exist for a reason — but they’re not the focus here. The market is clearly leaning bullish, and it’s leaning on the $180 level as a psychological threshold.

Block trade activity reinforces this. On 2026-04-10 expirations, a 4,000-lot sell of the $177.50 call and a massive 2,000-lot trade in the $172.50 call (twice) suggest that some big players are either hedging existing long positions or preparing to monetize a potential breakout. The sell call on $177.50 in particular implies that the buyer is either locking in profits or reducing exposure ahead of earnings or product news.

News-Driven Narrative: Bullish On AI, Concerns on Valuation and Regulatory Risk

The news flow has been mixed. On the positive side, Nvidia remains at the epicenter of the AI revolution, with Blackwell and Rubin architectures fueling growth. Its Data Center segment now makes up 90% of revenue, and the company is on track for $215.9 billion in annual sales — up 65% YoY.

But there are cracks in the foundation. Cathie Wood just dumped nearly $28M in NVDA shares, signaling a shift in her AI strategy. And while most analysts still have NVDA as a “Strong Buy,” the market is starting to question whether the current price-to-sales ratio is sustainable.

Then there’s the legal front. The smuggling case is now in trial phase, and the geopolitical risks — from Trump’s looming trade policies to the U.S.-China tech cold war — remain unresolved. These aren’t showstoppers, but they’re headwinds that could slow the momentum if the stock dips below key levels.

Trading Plan: Calls at $180–$182.50 and a Core Entry at $176.50

For options traders, the NVDA20260410C180 and NVDA20260410C182.50 strikes are the most compelling. These are the most liquid, with the highest OI. If NVDA breaks above $177 today or tomorrow, these calls will likely see a sharp price jump. If you want a slightly longer runway, consider the NVDA20260410C177.50 as a lower-risk entry, given its proximity to the current price.

For those who prefer to go long the stock, a solid entry point appears at $176.50, just a few ticks above today’s open. The 200-day moving average at 179.65 is a key target for the next 72 hours. If the stock can close above $178.50 by Friday, it could trigger a wave of call options to roll into next week’s expirations.

Volatility on the Horizon

The coming days will test whether NVDA can maintain its bullish momentum. A close above the 200-day line — and a sustained rally — could mark the beginning of a new leg higher. But a drop back under $171.37 (the intraday low) would trigger a reevaluation of both technicals and sentiment.

Given the call-heavy options chain, the block trade activity, and the strong rebound in RSI, I’m inclined to take the buy side of the trade. But I’ll be watching the 172.50 and 177.50 call activity like a hawk — because that’s where the real money is talking.