Nvidia (NVDA) Options Signal $190 Call Dominance: Bullish Breakout Setup Amid AI Chip Rivalry

• Nvidia trades at $188.15, down 0.56% from its 52-week high of $189.21, but remains above key 30D/200D moving averages.
• Options market shows 0.86 put/call open interest ratio, with heavy call buying at $190–$200 strikes and puts at $160–$185.
• Block trades reveal $7.7M call purchase at $175 strike (expiring 9/19/25) and $2.97M put activity at $165 (expiring 6/18/26).

The options market and technicals are painting a clear picture: Nvidia is primed for an upside breakout. With call open interest surging at the $190 level and bullish candlestick patterns forming, the stock appears to be testing critical resistance zones. Let’s break down why this could be a pivotal moment for traders.

Bullish Call Skew and Whale Activity Signal Price Momentum

The options chain shows a call-heavy bias, with the $190 strike (OI: 67,845) and $192.50 (OI: 31,380) strikes dominating open interest for Friday expiration. This suggests institutional players are hedging for a potential push above $190—a level that aligns with the upper Bollinger Band at $188.99. Meanwhile, the $160 put strike (OI: 51,662) acts as a floor for downside risk, but the put/call ratio of 0.86 indicates buyers are in control.

Notable block trades add context. A $7.7M call purchase at NVDA20250919C175 (expiring 9/19/25) signals long-term conviction, while the $2.97M put trade at NVDA20260618P165 hints at cautious positioning for a potential 2026 correction. These moves suggest big players are balancing near-term optimism with long-term hedging.

News Flow: Intel’s Setback and Insider Sales Create Narrative Tension

Nvidia’s decision to halt Intel’s 18A chip production test creates a strategic vacuum in its supply chain. While Intel’s shares dropped 2.2%, this could indirectly benefit Nvidia by forcing it to rely more on its internal manufacturing or TSMC partnerships. However, insider sales by director Mark Stevens ($40M in NVDA shares) have sparked debate. Though likely tax-driven, such moves often trigger short-term volatility. The market has shrugged off these sales so far, with NVDA up 9% post-transaction—a sign fundamentals remain strong.

Actionable Trade Ideas: Calls for Breakouts, Puts for Safety

For options traders, the NVDA20251226C190 (Friday expiration) and NVDA20260102C192.5 (next Friday) strikes offer compelling setups. If NVDA closes above $188.99 (Bollinger upper band), these calls could see rapid premium growth. A bull call spread using the $190 call and $195 put (for downside protection) balances risk and reward.

Stock traders should watch $180.54 (30D support) and $182.24 (200D resistance). Consider entries near $180.54 if support holds, with a target at $195 (RSI suggests 60–65 is neutral, so a push above 65 would confirm strength). A stop-loss below $179.98 (200D support) would protect against a breakdown.Volatility on the Horizon: Positioning for AI’s Next Wave

The coming weeks will test Nvidia’s ability to sustain its AI-driven rally. With $5.4B in cash and $5B invested in Intel, the company is navigating a delicate balance between innovation and execution. Traders should monitor RSI levels and options expiration flows for clues on whether the $190–$200 range becomes a battleground. For now, the data points to a bullish breakout scenario, but don’t ignore the $160–$185 put-heavy zone—it could become a magnet for panic selling if sentiment shifts.

In short: Buy calls at $190 strikes, watch the Bollinger Bands, and keep a hawkish eye on Intel’s 18A progress. The AI arms race is far from over.