Nvidia (NVDA) Options Signal Bullish Momentum: Key Strike Levels and Trade Setups for Jan 23–30, 2026

Quick Take

• NVDA surges 1.5% to $187.59, trading above 30D/200D moving averages.
• Call open interest dominates at $190–$195 strikes, with a 0.86 put/call ratio hinting at bullish positioning.
• Block trades show heavy put selling at $180–$185, suggesting institutional hedging or accumulation.
• China’s H200 chip approval and Jensen Huang’s China visit fuel near-term optimism.

The Big Picture

Nvidia’s options market is screaming upside bias. With the stock trading 1.5% higher today and MACD flipping into bullish territory, the combination of heavy call open interest at key strikes and recent news about China’s AI chip approvals paints a clear picture: traders are pricing in a breakout. But let’s dig into the numbers to see where the smart money is moving.

Bullish Sentiment Locked in OTM Calls and Block Trades

Take a look at the options chain: NVDA20260123C190 (this Friday’s $190 call) has 91,547 open contracts, while the NVDA20260130C190 (next Friday) holds 66,127. That’s not just noise—it’s a stampede toward $190 as a psychological target. The put/call ratio of 0.86 (calls > puts) reinforces this, showing investors are more willing to bet on gains than downside protection.

But here’s the twist: block trades are telling a different story. Over $8 million in put options at strikes like $180 and $185 (e.g., NVDA20260220P180) were sold today. Why? Institutions might be hedging long stock positions or quietly accumulating puts as a floor. The risk? If the stock stumbles below $186.82 (today’s low), those puts could trigger a short-term selloff. But for now, the bulls are in control.

China’s H200 Approval: Fuel for the Fire

The news that Chinese tech giants can now order H200 chips isn’t just a headline—it’s a catalyst. Alibaba and Tencent buying AI hardware means sustained demand for NVDA’s high-margin products. Pair that with Jensen Huang’s rumored China trip, and you’ve got a narrative that’s hard to ignore. Retail traders are already pricing this in: the $195 call (OI: 68,025) is a bet that the stock could hit $195 by expiration. Realistic? If the stock holds above $186.36 (Bollinger Middle Band), yes.

Actionable Trade Ideas

1. Options Play: Buy NVDA20260130C190 if NVDA breaks above $189.6 (today’s high). Target: $195. Stop-loss: $187.5 (current price). Why? The $190 strike is a liquidity magnet, and a close above $189.6 could trigger a rally toward $195.
2. Stock Play: Enter long near $186.82 (today’s low) with a stop below $184.65 (30D support). Target: $191.99 (Bollinger Upper Band). Why? The 30D MA at $183.86 and 200D MA at $165.25 form a strong base.
3. Put Spread: Buy NVDA20260130P185 and sell NVDA20260130P180 if NVDA dips to $185.04 (30D resistance). Profit if the stock stabilizes above $182.68.

Volatility on the Horizon

Nvidia isn’t just a tech stock—it’s a bellwether for AI’s global adoption. With China’s regulatory shift and Huang’s upcoming trip, the next two weeks could be pivotal. The options market is already pricing in a 10–15% move, but the real question is: Can the stock sustain momentum past $190? If it holds the $186.36 Bollinger Middle Band, the answer is likely yes. But if it cracks below $180.73 (Lower Band), watch for panic selling. For now, the bulls have the edge—but don’t ignore the puts. They’re whispering caution in a market that’s all but screaming optimism.