NVDA Options Signal Bullish Bias: Key Strike Levels and Block Trades Point to Strategic Entry Zones

• NVDA surges 2.98% to $188.59, trading above 30D/100D moving averages but below 200D MA.
• Options data shows 0.89 put/call open interest ratio, with heavy call OI at $190–$200 strikes and puts clustering at $170–$180.
• Block trades hint at institutional positioning: $503K in $195 calls (exp 2/20) and $277K in $185 puts (exp 1/23).

Here’s the takeaway: NVDA’s options market is leaning bullish, with heavy call open interest at key resistance levels and block trades suggesting strategic positioning for a potential breakout. While technicals show a short-term bearish bias, the broader narrative—backed by analyst upgrades and AI-driven demand—points to upside potential if support holds.

Bullish Sentiment in Options and Block Trades

The options chain tells a clear story. For this Friday’s expirations, calls at $190 (OI: 91,770) and $195 (OI: 90,521) dominate, while puts at $180 (OI: 66,850) and $170 (OI: 23,389) next week show defensive positioning. This imbalance suggests traders are pricing in a rally above $190 but hedging against a pullback to $175–$180.

Block trades add intrigue. The NVDA20260220C195 call ($503K turnover) and NVDA20260123P185 put ($277K turnover) hint at institutional bets on a mid-February breakout or a short-term dip to $185. These strikes align with Bollinger Band levels (upper at $195.19, middle at $184.76), making them logical targets for volatility plays.

News Flow: Analyst Hype vs. Geopolitical Risks

Analysts are all-in on NVDA. Mizuho and Citi raised price targets to $275, citing AI accelerator demand and the Groq acquisition. Q3 earnings beat estimates by 3.5%, reinforcing confidence. But the U.S.-China tariff saga complicates things: H200 sales to China face a 25% surcharge, while Beijing’s rumored import bans could dent near-term revenue. This duality means bullish momentum depends on macro stability—a wildcard for traders.

Actionable Trade Ideas

For options traders, the most compelling setups are:

• Bull Call Spread: Buy NVDA20260123C190 (next Friday’s $190 call) and sell NVDA20260123C195 to cap risk. The stock needs to break $190 to justify the spread, which aligns with Bollinger Band resistance.
• Protective Put: Buy NVDA20260123P170 to hedge against a drop below $184.76 (middle band). This strike offers decent leverage if the stock corrects.

For stock traders, consider:

• Entry near $184.76 (middle Bollinger Band) if the 30D support ($184.65–$185.04) holds. Target $190–$195 if the 200D MA ($163.28) continues to act as a floor.
• Stop-loss below $182.24 (200D support zone) to avoid a breakdown into $174.33 (lower Bollinger Band).

Volatility on the Horizon

The coming weeks will test NVDA’s resolve. A breakout above $195.19 could reignite the 2026 rally, while a close below $184.76 might trigger a test of $174.33. Options activity suggests the market is pricing for a bullish resolution—but geopolitical risks remain a shadow over the trade. For now, the data leans toward a measured bullish stance, with key strikes and block trades offering clear entry/exit points. Stay nimble, and watch those $190–$195 calls like a hawk.