NVDA Options Signal Bullish Bias: Key Strikes and Block Trades Point to $190+ Upside Potential

• NVDA surges 2.3% to $183.78, breaking above 30D support at $186.01

• Call open interest dominates at $190 and $185 strikes, with a 0.88 put/call ratio

• Block trades show $26,000 in NVDA20250919C175 calls bought ahead of Sept expiry

Here’s what’s happening: Options data and technicals are painting a clear picture—Nvidia’s bulls are stacking up for a potential breakout above $190. Let’s break down why this could be your best setup today.

Where the Money Is Flowing: Calls at $190, Puts at $160, and Whale Moves

The options market is a goldmine of sentiment. Right now, the top call open interest is clustered at $190 (133,137 contracts) and $185 (119,431), while puts peak at $160 (51,431). This isn’t random—it’s a bet that NVDA will test Bollinger Upper Band resistance ($198.16) before the Friday expiry. The 0.88 put/call ratio (calls > puts) reinforces this bullish tilt.

But don’t ignore the risks. The RSI at 36.41 suggests oversold conditions, but the MACD (-2.78) and bearish histogram (-0.82) hint at lingering short-term selling pressure. That’s why the $185-$190 call strikes could act as a double-edged sword: if NVDA stalls near $186 (30D support), those calls might expire worthless.

Block trades add intrigue. A $7.7M buy of 26,000 NVDA20250919C175 calls (expiring Sept 19) suggests big players are hedging against a mid-year rally. Meanwhile, the $10M put block at NVDA20260116P160 (Jan 2026 expiry) shows some long-term caution—though it’s a smaller position compared to the call frenzy.

News That Could Fuel the Fire

Nvidia’s recent regulatory win in Washington is a game-changer. The GAIN AI Act’s removal from the defense bill eases immediate export restrictions to China, a market that’s 30% of its revenue. CEO Jensen Huang’s Capitol Hill lobbying paid off—and that’s music to investors’ ears. Combine this with Palantir’s AI data center partnership, and you’ve got a narrative of sustained growth.

But here’s the catch: The $60.6B cash hoard isn’t just for show. Management’s $100B OpenAI stake and $18B in strategic bets (Synopsys, Intel) mean they’re primed to reinvest, not just buy back stock. While that’s good for long-term value, it delays near-term shareholder returns. For now, the bullish options flow assumes this cash will fuel innovation, not dilution.

Your Playbook: Calls at $190, Stock Entry at $182.24

If you’re bullish: Buy the NVDA20251205C190 (Friday expiry, $190 strike). With NVDA trading at $183.78, this call gives you leverage if the stock breaks above $186 (30D support). Target a close above $190 to validate the move—then ride the momentum toward $198.16 (Bollinger Upper Band).

For stock traders: Consider entry near $182.24 (200D resistance zone). If the price holds above this level, aim for $190 as a first target. A break below $179.98 (200D support) would force a reevaluation.

Bearish hedge: The NVDA20251205P160 put offers downside protection if the AI sector faces a sector-wide selloff. It’s cheap at current premiums but could spike if the cash hoard story turns sour.

Volatility on the Horizon: Why This Setup Matters

The next 72 hours will test NVDA’s resolve. A close above $186.61 (30D resistance) would validate the bullish case, while a retest of $179.98 (200D support) could trigger a short-covering rally. Either way, the options market is pricing in a $190+ future—so your job is to decide whether to join the parade or short the float.

Bottom line: This isn’t a ‘buy and forget’ trade. Keep an eye on the defense bill’s final wording (due by Dec 12) and Palantir’s Chain Reaction rollout. If those check boxes, the $190 call could be your ticket to a 6% gain in three days.