Nvidia (NVDA) Options Signal $190 Bull Call Play Amid Strategic AI Wins and Trump Policy Shifts

• Analysts at Bank of America and Morgan Stanley just raised price targets to $275 and $250, citing AI partnerships with Mistral and AWS.
• Trump’s green light for H200 chip sales to China creates regulatory clarity, but long-term adoption risks persist.
• Options data shows 145K open interest at the $190 call strike (this Friday’s expiry), while block traders bought 26K calls at $175.
• The stock is trading at $184.34, down 0.65% but still above key 30D support at $179.40. Here’s why the options market is bullish—and where the risks lie.

Bull Call Pressure at $190: What the Options Chain Reveals

The options market isn’t just watching Nvidia—it’s betting. The $190 call strike (NVDA20251219C190) has 145K open interest for Friday’s expiry, while the $200 call (NVDA20251219C200) has 106K for next Friday. That’s not random. It’s a signal: big money expects a short-term pop, likely driven by the recent AI partnerships and Trump’s policy shift. But don’t ignore the puts. The $180 strike (NVDA20251219P180) has 59.8K open interest, hinting some traders are hedging against a pullback to the 30D support at $179.40.

Block trades add context. A 26K-lot of calls at $175 (NVDA20250919C175) was bought recently, suggesting institutional players are locking in leverage. But the $180 put block (NVDA20251219P180) could act as a safety net if the stock stumbles. The key takeaway? The market is pricing in a $190+ move by Friday, but it’s not ignoring the risks of a $180–$179.40 correction.

News Flow: Strategic Wins vs. Geopolitical Uncertainty

The recent analyst upgrades and CUDA 13.1 update are textbook bullish catalysts. NVIDIA’s 95% AI-accelerator market share and simplified GPU programming tools raise the bar for competitors. But Trump’s H200 approval is a double-edged sword. While it removes regulatory roadblocks, China’s push for self-sufficiency (Huawei’s Ascend, Alibaba’s models) could limit long-term demand. The market is pricing in short-term optimism but hedging against structural risks. That’s why the $190 call is popular—it’s a near-term play on AI hype, while the $180 put balances the geopolitical uncertainty.

Actionable Trade Ideas: Calls for Leverage, Puts for Protection

For options traders: Buy the NVDA20251219C190 call (strike price $190, expiry Friday). With the stock at $184.34, this is a 3.5% out-of-the-money play. If the stock breaks above the Bollinger Upper Band at $196.13, this call could see 20%+ gains. For a longer-term bet, the NVDA20251219C200 (next Friday’s expiry) offers 8% OTM leverage.

For stock traders: Consider entering near $184.34 if the price holds above the 30D support at $179.40. A breakout above $187.50 (Bollinger Upper Band) would validate the bullish case, with a target at $190. A stop-loss below $179.40 would protect against a breakdown.

For hedgers: Buy the NVDA20251219P180 put to cap downside risk. At $184.34, this is a 2.3% OTM play that gains value if the stock dips to $179.40.

Volatility on the Horizon: Balancing Bullish Momentum and Structural Risks

The options market is pricing in a $190+ move by Friday, but don’t forget the 200D support at $179.98 is just $5 below current levels. If the stock closes below $183.32 (intraday low), the $179.40–$180.00 support zone becomes critical. The news flow is mixed: AI partnerships and CUDA updates are strong, but China’s self-reliance push could cap long-term gains. For now, the $190 call and $180 put combo offers a balanced way to play the near-term AI rally while hedging against geopolitical headwinds. The key is to stay nimble—this stock isn’t sleeping.