Visa (V) Options Show Bullish Skew at $320 Call — Here’s How to Play the RSI Oversold Setup

• The V stock is currently trading at $302.62, up nearly 1% from its open.

• The options market shows a heavy call skew, with 5,550 open interest at the $370 call.

• The RSI is at 16.4 — a strong oversold signal that could signal a bounce.

The market is watching Visa closely. And right now, the signs are leaning bullish — not just in the price action, but in the options activity too. A combination of bearish technicals and bullish options positioning tells a story of a short-covering opportunity that could spark a rebound. Let’s break it down.

The Call Skew and Block Buy at $320 Suggest a Rally Is in Play

Visa’s options chain shows a heavy call bias. The $370 call has 5,550 open interest — and that’s just one of several high-strike OTM calls. But what really stands out is the $320 call (V20260327C320), with 1,222 open interest. This strike is just 5.8% above the current price, making it a realistic target given the current RSI oversold reading and the stock trading near its 200-day moving average.

Then there’s the block trade. Earlier today, 900 $320 calls were bought — a relatively large trade for a stock that hasn’t seen massive volume yet. It’s not just retail hype. Someone with skin in the game is betting on a move up.

The put side isn’t as aggressive — the top put has just 5,544 open interest at $270. That’s a long way from current levels, which suggests the market isn’t pricing in a deep selloff.

Put/Call Ratio and OTM Skew Signal a Push Higher

The open interest put/call ratio is 0.88, meaning calls are more heavily funded. This is not a neutral setup — it’s a bullish one.

That’s not to say we’re ignoring the RSI at 16.4 and the bearish Kline pattern. But when options buyers are pushing into calls at strikes like $320 and $345, it shows they expect a rebound — maybe even a break of the 30-day moving average at $319.86.

No Major News, But That’s Okay — Technicals Are Enough

There’s no recent major news on Visa. But sometimes, the lack of news is the news. In a market where sentiment is already bearish, the absence of bearish headlines can let technicals take the lead.

Investors are likely watching the broader macroeconomic environment, but for Visa, it’s about short-term technicals and options positioning. The lack of news means there’s less noise — and more room for the RSI-driven bounce to play out.

Here’s How to Play the Move — Stock and Options

If you’re bullish and looking to capitalize, here are a few setups to consider:

• Options Play: Buy the V20260327C320 call option. The stock is already at $302.62, and this strike is within reach if the RSI normalizes. The 5.8% move into the strike is reasonable given the current technicals.

• Stock Play: Consider entering the stock near $302 if it holds above $299 (the intraday low). A break above $305 would confirm the bounce. Target levels: $310 (Bollinger middle band) and $319.86 (30-day MA).

• Advanced Play: If you want to structure a trade with a safety net, buy the V20260327C320 call and sell the V20260327P300 put to reduce net cost. The put gives you a floor at $300 — and the call gives you upside if the rally materializes.

Volatility on the Horizon — Time to Act

The market is primed. The RSI is at extreme oversold, the 200-day MA is in play, and the options market is skewed to the upside. The block buy at the $320 call and the heavy call OI at $370 show that capital is flowing into bullish positions.

But time is short — these options expire on March 27. If you’re going to act, do it now. This isn’t a long-term trade — it’s a short-term setup to capture the bounce.

The question isn’t whether Visa can go higher — it’s whether you’re ready to act before the market moves.