NVDA Options Signal Aggressive Bullish Play: Calls at $192.5–$195 Dominate as AI Deals Fuel $200+ Upside Potential

• Nvidia’s price action is trading at $187.24, down 0.52% from its 52-week high of $188.99, but still above key 30D and 200D moving averages.
• Options market frenzy shows 86,842 open interest at the $192.5 call strike (this Friday’s expiry) and a 0.88 put/call ratio, signaling heavy bullish positioning.
• Block trades reveal a $7.7M call buy at $175 (NVDA20250919C175) and a $2.97M put purchase at $165 (NVDA20260618P165), hinting at strategic hedging and long-term conviction.

The big picture? Nvidia’s options market is pricing in a sharp rebound above $192.50—backed by AI-driven news and technical momentum—while short-term volatility could test support near $181.87.Bullish Sentiment Locked in at $192.5–$195 Calls

Let’s start with the options data: the top OTM calls for this Friday’s expiry are clustered between $192.5 and $195, with 86,842 contracts at $192.5 (OI) and 85,168 at $195. That’s not just noise—it’s a vote of confidence. Traders are betting Nvidia will break out of its Bollinger Band middle line ($181.87) and test the upper band at $192.46. The RSI at 53.1 and MACD crossing above the signal line (0.69 vs. -0.91) reinforce this.

But here’s the catch: the put/call ratio of 0.88 (calls dominate) means the market isn’t pricing in a major selloff. However, the $160 put strike has 23,349 OI (this Friday), which could act as a floor if AI hype falters. Block trades like the 26,000-contract NVDA20250919C175 buy ($7.7M) suggest big players are hedging against a short-term pullback while staying bullish on the long game.

AI Deals and Analyst Hype: Why the Bullish Bias?

Nvidia’s recent $5B Intel stake and $20B Groq licensing deal aren’t just headlines—they’re strategic moves. By integrating Groq’s low-latency AI chips and team, Nvidia is solidifying its dominance in AI inference, a market projected to hit $255B by 2032. Bernstein and Truist have both raised $275 price targets, and with $60B in cash, the company can keep acquiring without stressing its balance sheet.

This isn’t just about tech—it’s about perception. Investors see Nvidia as the “Microsoft of AI,” and the options data reflects that. The $192.5 call strike aligns with both the upper Bollinger Band and the 30D MA (181.97), making it a psychological hurdle. If the stock breaks $192.50, the 200D MA at $159.46 becomes a distant memory.

Trade Ideas: Calls for the Bold, Stock for the Patient

For options traders, the NVDA20260102C192.5 call (expiring Jan 2) is a high-conviction play. With 74,156 OI and the stock hovering near $187, a 4% move to $195 would turn this into a 20%+ gain. For a safer bet, a call spread between $190 and $195 (using NVDA20260102C190 and NVDA20260102C195) caps risk while leveraging the breakout potential.

Stock buyers should target $187.24 (current price) with a stop-loss near $181.87 (middle Bollinger Band). A breakout above $192.50 would aim for $197.50 (next OTM call cluster) and even $200, where the 100D MA (182.86) becomes irrelevant.

Volatility on the Horizon

Nvidia’s options market is a chessboard. The heavy call positioning at $192.5–$195 suggests a “buy the dip” mentality, but the $160 put block (23,349 OI) isn’t to be ignored. If the stock dips below $181.87, the 200D MA at $159.46 could trigger panic. But with AI demand exploding and analysts bullish, the path of least resistance is up.

Bottom line: This is a stock with momentum, a company with vision, and an options market pricing in a $200+ future. The question isn’t whether Nvidia can get there—it’s whether you’re ready to ride the wave.