Today we came across a few notable bullish call option trades for NVIDIA (NVDA), reflecting aggressive positioning ahead of key summer expiration dates. The largest trade involves 17,000 contracts on the $149 strike expiring June 13th, 2025. The trade executed at $0.88 per contract, putting the total premium at $1.5M. The trade was labeled as a Block trade—often indicative of institutional activity. Additionally, a 12,500-contract block at the $200 strike expiring August 15, 2025, was filled at $0.42, adding $525K in premium. A third trade stands out as a Sweep order—suggesting urgency—with 2,554 contracts at the $170 strike (same August expiry) filled for $510.8K.
Volume is elevated across all three trades. The $149 June call shows a volume of 17,572 versus 21,659 OI, while the $200 August call shows 13,482 daily volume vs 25,351 OI. This implies strong V/OI ratios of 81% and 53%, respectively—indicative of fresh interest and new positions. These trades collectively represent over $2.5 million in bullish premium, suggesting either speculative upside plays or positioning for further strength in NVDA during and after its next earnings or AI-related catalyst window.
Volume and Open Interest Data
Weekly historical data shows a dramatic surge in volume for the NVDA $149 call expiring June 13, 2025. On June 5th, volume spiked to 48,551 contracts, more than double the prior day’s already elevated 21,925 contracts on June 3rd. This explosive activity dwarfs the open interest, which only ticked up to 21,659. This implies that much of the volume consists of new positions being opened rather than existing ones being closed.
The open interest rose by 19,890 contracts on June 4th and an additional 171 on June 5th. This pattern further confirms a buildup of bullish bets. Notably, despite the pullback in the option price from $0.89 to $0.53 over two days, traders continued piling in, suggesting conviction in a near-term upward move in NVDA. Implied volatility also stayed elevated around 35%, reflecting demand for upside exposure.
Trade Side Distribution
The trade side distribution for the NVDA $149 call expiring June 13, 2025 reveals a strong bullish sentiment. A dominant 76% of traded premium ($1.7 million) executed at the ask price, indicating aggressive buying activity. Only 17% ($383.7K) of the volume was transacted at the bid, suggesting relatively low selling pressure.
Additionally, small portions were filled above the ask (3%) and at the mid (4%), while no trades occurred below the bid. This distribution reflects a clear imbalance toward buyers seeking immediate fills, often interpreted as institutional or high-conviction retail interest expecting a sharp upside move in the short term.
What’s Happening with NVDA
NVIDIA (NVDA) has remained at the forefront of the tech sector in early June 2025, driven by a combination of robust financial performance, product innovation, and heightened investor interest. The company recently reported outstanding Q1 2025 results, with revenue soaring to $44.1 billion—up 69% year over year. They achieved these results despite facing a $4.5 billion charge linked to new U.S. export restrictions on its H20 products to China. Even with these challenges, NVIDIA’s core business remains strong, and gross margins would have exceeded 71% excluding the one-time charge.
Analysts and market commentators remain optimistic about NVIDIA’s trajectory. The company’s dominant role in the AI revolution, expanding product ecosystem, and record-setting earnings growth have fueled a 20% stock gain over the past month. While there are concerns about potential slowdowns in AI demand and ongoing trade tensions with China, the consensus is that NVIDIA is well-positioned for long-term growth.
About NVDA
NVIDIA Corporation (NVDA) is a leading technology company known for designing and manufacturing high-performance graphics processing units (GPUs). These GPUs are primarily used in gaming, professional visualization, data centers, and automotive markets. Founded in 1993, NVIDIA revolutionized computer graphics with its invention of the GPU and has since become a key player in the artificial intelligence (AI) space.
Its GPU architectures, such as the GeForce, Quadro, and most recently the Hopper and Grace platforms, power everything from advanced video games to deep learning systems, AI model training, and autonomous vehicle technologies. NVIDIA also provides software platforms like CUDA and AI-focused solutions for industries ranging from healthcare to robotics.
Analyst Ratings
| Analyst | Rating | Updated Date |
|---|---|---|
| CFRA | ★★★★☆ | 06/01/2025 |
| Market Edge | LONG | 05/16/2025 |
| Argus | BUY | 05/29/2025 |
| Morningstar | ★★★☆☆ | 05/29/2025 |
| LSEG | OUTPERFORM | 06/04/2025 |
| Schwab Equity Ratings | B | 06/05/2025 |
Above is a consolidated overview of analyst ratings for NVIDIA Corporation (NVDA) from multiple financial institutions. Most analysts hold a positive outlook on NVDA, with a few expressing neutral or bearish sentiments.
Specifically, Schwab Equity Ratings, LSEG, and CFRA gave strong positive assessments, while Morningstar and Argus issued more cautious or mixed ratings. Notably, Market Edge and LSEG also diverged from the consensus, showing either neutral or slightly negative stances. The overall tone suggests confidence in NVDA’s continued performance with some variability in degree of optimism.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
