Nvidia (NVDA) Options Signal $190 Bull Call Play: Here’s How to Position for China AI H200 Hopes and Volatility Expansion

• Price action: NVDA trades at $188.61, down 0.32% from $189.21, but holds above key 30D support at $180.54.
• Options heat: Call open interest spikes at $190, $192.5, and $195 strikes (next Friday expiry), while puts dominate at $160 and $185.
• News catalyst: H200 chip export resumption to China (mid-2026) and insider sales spark mixed sentiment.
• Key takeaway: A bullish engulfing candle + heavy call buying at $190 suggests a short-term breakout threat, but $180 support is critical to watch.

The stock isn’t screaming—it’s whispering a warning and a promise. The options market is leaning hard into the promise. With a put/call ratio of 0.86 (calls dominate) and block trades showing aggressive call accumulation, NVDA is set up for a directional move—up or down. But the data leans bullish, especially if $190 becomes a psychological hurdle.Bull Call Overload at $190–$195: What the Options Are Telling Us

The options chain is a treasure map. Right now, it’s pointing to $190 as a hotspot. For Friday expiry, NVDA20251226C190 has 67,845 open contracts—nearly double the next strike. Next Friday’s NVDA20260102C190 sees even heavier interest (68,298 OI). This isn’t random. When institutional players pile into a strike, they’re either hedging a position or betting on a price target.

But here’s the twist: The $190–$195 call wall isn’t just bullish—it’s a volatility trap. If NVDA breaks above $190, those calls could ignite a cascade of forced buying. However, the $160 put wall (51,662 OI this Friday) hints at downside risk. A breakdown below $180 would trigger panic, but the 30D support at $180.54 is a critical line in the sand.

Block trades add fuel to the fire. A $7.7M buy of NVDA20250919C175 (expiring Sept 2025) and a $2.97M put purchase (NVDA20260618P165) suggest big players are hedging long-term exposure. But the recent $14.5M call buy (NVDA20251017C175) shows conviction in the AI chip giant’s near-term rally.News: China H200 Hope vs. Insider Sales

The H200 export news is a slow-burn catalyst. If the Biden administration approves shipments in early 2026, it could unlock $40M–$80M in chip sales—enough to juice Q1 2026 earnings. But here’s the catch: The market isn’t pricing this in yet. The stock’s 0.3% dip today suggests skepticism, but the options data tells a different story.

Meanwhile, Mark Stevens’ $40M insider sale is a red flag for short-term volatility. Selling 222,500 shares in a single day isn’t a sign of confidence. Yet, the stock has risen 9% since the transaction. This disconnect hints at a “sell the rumor, buy the news” dynamic—common in high-growth stocks.

Trading Setup: Calls at $190, Stock Buy at $180.54

For options traders:

• Aggressive play: Buy NVDA20251226C190 (this Friday expiry) at $188.61. Target $195 break-even in 2 days.
• Longer-term bet: Load NVDA20260102C192.5 (next Friday expiry) at $188.61. This strike aligns with Bollinger Band resistance ($188.99) and could catch a post-Christmas rally.

For stock investors:

• Entry: Buy NVDA near $180.54 (30D support) if it holds above $180.54.
• Target: $195 (200D MA at $158.33 is a long-term floor).
• Stop: Below $179.98 (200D support zone).

Volatility on the Horizon: Bullish Trends Ahead

The RSI at 60.41 and MACD crossing above the signal line suggest NVDA is primed for a rebound. But don’t ignore the puts. A $160 put wall means a sharp drop could trigger a liquidity crisis. The key is timing: If the stock holds $180.54, the bulls control the narrative. If it breaks, the puts will dominate.

Final call: This is a high-conviction trade for AI believers. The H200 news is a long-term tailwind, but the options market is already pricing in a short-term pop. Play it smart—use the $190 calls as a leveraged play and the $180.54 support as a stock entry. Either way, NVDA isn’t sleeping through the night—it’s charging toward a breakout.