Three significant call option trades for NVIDIA (NVDA), all targeting the $180 strike price with a distant expiration of September 19, 2025 hit the tape today. Each trade is labeled as a “Sweep,” indicating urgency and aggressive buying behavior, which often suggests institutional activity. The trades were executed at or above the ask, reinforcing their bullish nature. Premiums paid for these positions are substantial, totaling around $3.8 million combined ($1M + $1.1M + $1.7M). The spot price of NVDA was around $179.14–$179.20 at the time of these trades, making the strike effectively at-the-money.
One of the most notable indicators here is the volume/open interest (V/OI) ratio. The daily volume for this contract is 7,365 contracts. Open interest (OI) stands at 39,594, yielding a high V/OI ratio of ~0.19, which is relatively elevated. A heightened ratio often suggests new positions are being opened rather than existing ones being closed. The size of each individual trade (985, 1,020, and 1,622 contracts) further supports the notion of strategic accumulation.
Volume and Open Interest
The NVDA 180C 09/19/2025 option chain has shown a notable surge in trading activity over the past few sessions. Specifically on July 30th, volume spiked to 13,545 contracts, dwarfing the previous day’s 9,238 contracts. Open interest (OI) also increased meaningfully by +1,719 contracts, reaching a total of 39,594. This strongly indicates that new positions are being opened rather than closed. Further support for this thesis is shown by the prior day’s OI increase of +1,220, showing consistent bullish accumulation.
The option price climbed from $8.70 on 07/29 to $10.60 on 07/30, alongside a rising implied volatility (IV) from 37.89% to 39.79%. This points to increased demand and growing expectations of a larger move in NVDA. Overall, this data reinforces the notion of bullish sentiment building up.
Trade Side Distribution
The trade side distribution for the NVDA 180C 09/19/2025 option reveals a strong bullish bias in recent activity. A substantial 63% of trades ($4M) occurred at the ask, and another 34% ($2.1M) traded above the ask. This strongly suggests aggressive buying and urgency—common signals of institutional interest.
Only a minimal 3% ($208.9K) occurred at the bid, with no trades executed at or below the mid-price. The near-complete absence of passive or neutral trades underscores this as an assertive accumulation phase. This behavior aligns with the earlier volume and open interest increases, reinforcing the view that traders are betting on upward movement in NVDA.
More Notable Option Trades Observed
Bullish NVDA sentiment was found in long-dated call LEAPS as well. The latest NVDA option order flow shows two large sweep call buys for the $190 strike expiring on June 18, 2026. This reflects a continued wave of bullish sentiment with longer time horizons than the previously mentioned trades. Both orders were executed at the ask, indicating urgency and intent to enter positions quickly. The first trade involved 490 contracts at $24.55, totaling a $1.2 million premium. The second was even larger—1,000 contracts at $24.50, totaling $2.5 million.
Combined, these sweeps represent $3.7 million in bullish premium placed while NVDA was trading around $179.03–$179.10. This marks the $190 strike modestly out-of-the-money. The total daily volume for this strike is 1,714 contracts while open interest stood at 25,531. This skew implies a V/OI ratio of ~0.07, suggesting new positioning rather than simple rotation. These long-dated call sweeps reinforce the presence of institutional conviction in NVDA’s upside potential well into 2026.
What’s Happening with NVDA
Nvidia (NVDA) made headlines today by reaching a new all-time high, cementing its leadership position in the rapidly evolving AI chip market. This milestone was achieved amid renewed optimism among analysts, who have raised their price targets as the company continues to dominate the artificial intelligence sector. The company also recently secured U.S. approval to resume shipments of its advanced H20 AI chips to China.
In addition, Nvidia has unveiled new energy-optimized rack-scale systems and continues to see robust demand in data centers, further fueling investor enthusiasm. The stock has also consistently outperformed the broader market, reflecting strong profitability and continued confidence in Nvidia’s strategic direction.
About Nvidia
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
| Firm | Rating | Last Updated |
|---|---|---|
| CFRA | ★★★★ | 07/13/2025 |
| Market Edge | ★★ | 05/16/2025 |
| Argus | ★★★★ | 04/24/2025 |
| Morningstar | ★★★ | 07/01/2025 |
| LSEG | ★★★★ | 07/16/2025 |
| Schwab Equity Ratings | C | 07/17/2025 |
Analyst ratings for NVIDIA (NVDA) from six major research firms show an overall positive to bullish consensus. Notably, CFRA maintains a four-star “Long” rating as of July 13, 2025, signaling high conviction in NVDA’s continued upside. Market Edge recommends “Avoid,” a clear outlier among the group.
Argus remains bullish with a “Buy” rating (last updated in April), while Morningstar gives a more neutral 3-star Holdrating. LSEG rates the stock as “Outperform”, reinforcing NVDA’s favorable outlook. Lastly, Schwab Equity Ratingsgives a “C” grade, implying a neutral stance. Despite some divergence, the majority of firms lean bullish, which aligns with NVDA’s recent breakout to all-time highs.
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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.
