NVDA Options Signal $190 Bullish Battle: How to Trade the AI Giant's Volatility

• NVDA surges 1.07% to $184.36, trading above 30D support/resistance cluster at $186.01
• Call open interest dominates at $190 strike (120,790 contracts) as key psychological threshold
• Block trades show 26,000 calls bought at $175 strike ahead of Sept 19 expiration

Here's what I'm seeing: The options market is clearly pricing in a high-stakes battle for $190. With call open interest 23% higher than puts overall, and 4 of the top 5 this-week calls clustered between $185-$195, we're looking at a textbook bullish setup. But the RSI at 41.7 suggests caution—this isn't a straight-line rally.

The $190 Call Wall and Institutional Signals

Let's break down the options chessboard. For Friday's expiration, the $190 call (NVDA20251212C190) has 120,790 open contracts—nearly double the next strike. That's not just retail frenzy; it's institutional positioning. The $175 block trade (NVDA20250919C175) with 26,000 contracts bought suggests big players see support near $175-180.

But don't ignore the puts. The $180 put (NVDA20251212P180) has 20,450 open contracts, hinting at a possible downside catalyst if the stock stumbles below $182.24 (200D support). The MACD histogram (-0.157) shows momentum waning, so a pullback to test the Bollinger Band middle ($184.48) could trigger that put action.

News That Could Shift the Odds

SoftBank's $14B Skild AI deal is the most immediate tailwind. This isn't just another partnership—it's a validation of Nvidia's AI infrastructure play. But CoreWeave's 5% drop after its $2B note offering shows the sector's fragility. The real test comes in January with those 76,875 open contracts at the $100 strike—wildly bearish positioning that could trigger a short squeeze if the stock holds above $172.59 (lower Bollinger Band).

3 Concrete Trade Setups

1. This-Week Call Play: Buy NVDA20251212C190 if price breaks above $186.61 (30D resistance). Target $195-$200 if the Skild deal closes.
2. Next-Week Breakout Bet: NVDA20251219C200 has 104,592 open contracts—buy if volume spikes above 150M. Stop below $184.48.
3. Stock Positioning: Consider entry near $184.48 (middle Bollinger Band) with a tight stop at $179.98. Target $190 first, then $196.37 (upper Bollinger Band).

Volatility on the Horizon

The next 72 hours will be critical. If NVDA holds above $182.40 (intraday low), the $190 call wall could push it toward $200. But watch that $180 put strike—break below $179.98 and the 200D moving average ($154.74) becomes a real threat. This isn't just about AI hype anymore—it's about who controls the options chessboard at $190.