NVDA Options Signal Bullish Momentum: Key Strike Levels and Block Trades Point to $200+ Upside Potential

• NVDA surges 3.13% to $188.87, breaking above its 30D/100D moving average of $183.62.
• Options data shows 9.6M call open interest vs. 8.6M puts, with heavy call OI at $190–$200 strikes.
• Block trades reveal $4.48M bought in June 2026 $190 calls, signaling long-term bullish bets.

Here’s the takeaway: NVDA is charging higher on a mix of AI-driven optimism and options positioning that favors a $200+ move. The stock’s 3.13% intraday gain has traders eyeing the $190–$200 range as a critical battleground—backed by both technical levels and options flow. Let’s break down why this could be a setup for a breakout trade.

Bullish Freight Train: OTM Calls and Block Trades Signal $200+ Target

The options market is all over the $190–$200 range. For this Friday’s expirations, the top call strikes at $190, $195, and $200 have combined open interest of 349,398 contracts. That’s not just noise—it’s a sign of conviction. Traders are betting NVDA will hold above its 200D MA ($163.28) and test the upper Bollinger Band at $195.19.

But here’s the kicker: A block trade of NVDA20260618C190 (June 2026 $190 calls) saw $4.48M poured in. That’s a whale-level bet saying, “I think this stock is going to $200+ in six months.” Meanwhile, the put/call ratio of 0.89 (calls > puts) suggests the crowd is more worried about missing upside than downside risk.

Still, don’t ignore the puts. The top OTM puts at $180–$160 have 212,262 contracts in open interest. If NVDA stumbles below its 30D support at $184.65, those puts could trigger a short-covering rally. But for now, the momentum is clearly to the upside.

News Flow: AI Optimism vs. China Headwinds—Which Wins?

Analysts are all over NVDA like bees to honey. Mizuho and Citi just raised price targets to $275, while RBC started coverage at $240. Earnings beat by $0.07 and $57B revenue (up 62.5% YoY) are fueling the bullish fire. The Groq acquisition and Applied Digital partnership? They’re framing NVDA as the “GPU infrastructure king” for AI’s next phase.

But here’s the rub: China’s H200 chip restrictions could slow near-term growth. U.S. tariffs and Beijing’s purchase limits are real risks. However, TSMC’s $56B capex announcement (up from $41B in 2025) signals sustained demand for AI chips. That’s a green light for NVDA’s long-term roadmap—even if short-term volatility is inevitable.

Actionable Trades: Calls for the Breakout, Stock for the Breakout

If you’re bullish, here’s how to play it:

• Options Play: Buy NVDA20260123C190 (next Friday’s $190 call) if NVDA closes above $189.70 (intraday high). The $190 strike has 29,010 contracts in open interest, making it a liquid, high-probability target. Exit if the stock dips below $184.76 (middle Bollinger Band).

• Stock Play: Enter long near $188.50 if NVDA holds above its 30D MA ($183.62). First target: $195.19 (upper Bollinger Band). Second target: $200, where the June 2026 block trade suggests heavy call buying. Use a stop below $184.33 (lower Bollinger Band) to manage risk.

Volatility on the Horizon: Balancing Bullish Momentum and Regulatory Risks

NVDA’s story is a classic “two-step dance.” On one hand, AI demand, analyst upgrades, and TSMC’s capex are tailwinds. On the other, China’s regulatory hurdles and short-term profit-taking (insiders sold $846M recently) could create volatility. The key is to stay nimble: Use the $190–$200 call strikes as your guide, and keep an eye on the $184.76 support level. If that holds, the bulls keep the keys. If it breaks? Time to reassess.

Bottom line: This is a stock with a freight train of momentum—and the options market is betting it’s headed to $200+. But don’t ignore the risks. Play it smart, and let the data guide your next move.