Today’s options activity showed a cluster of large bullish NVDA call sweeps targeting the $135 strike expiring on January 15, 2027. Each trade is a buy at or above the ask. The daily trade volume for this contract reached 4,386 against an open interest (OI) of 23,008.
Premiums per trade hovered between $1.1M and $1.3M, suggesting institutional-sized orders. Individual order sizes ranged from 171 to 200 contracts at prices ranging from $65.10 to $66.95.
(adsbygoogle = window.adsbygoogle || []).push({});Volume and Open Interest Data
The NVDA $135C 01/15/2027 contract has seen notable trading activity over the past three sessions. Daily volumes of 4,900 (Aug 8th), 4,028 (Aug 11th), and 4,498 (Aug 12th) contracts were recorded. Despite the consistently high volume, open interest (OI) has been declining, dropping from 27,986 on Aug 8th to 23,008 on Aug 12th. This marks a reduction of nearly 5,000 contracts in just three sessions.
This suggests that much of the recent volume may be closing positions rather than initiating new ones. Contract prices have held steady to slightly higher, rising from $66.75 to $67.00, while implied volatility remains stable in the 43% range. The elevated volume relative to OI alongside an OI decline could indicate profit-taking or rotation out of existing positions rather than aggressive new accumulation.
More Notable Options Trades Observed
Additional bullish sentiment for NVDA was detected in other contracts. Specifically, a large bullish sweep for the $175 strike call expiring January 16, 2026, executed above the ask, indicating strong urgency to enter the trade. The order size was 1,250 contracts at a price of $24.60, totaling a premium of $3.1M—a notable institutional-level purchase.
The spot price at execution was $182.43, placing this strike slightly in-the-money. Volume for the day reached 1,373 contracts against an open interest of 21,781. The sweep type further implies the trader wanted quick market-wide execution, often signaling conviction in near- to mid-term upside potential.
What’s Happening with NVDA
Nvidia (NVDA) recently made headlines following a high-profile agreement with the Trump administration concerning its AI chip exports to China. Amid ongoing US-China tech tensions, Nvidia secured permission to resume sales of its H20 chips to Chinese customers, but only after negotiations in which CEO Jensen Huang and President Trump settled on a deal for Nvidia to pay the US government 15% of every dollar earned from these sales. This setup—framed as a voluntary payment rather than a tax or tariff—also applies to competitor AMD. Fundamentally, the agreement enables both firms to acquire vital export licenses for the Chinese market.
The arrangement is unprecedented in US business history and has sparked controversy and debate in Washington financial circles, as the government essentially becomes a minor stakeholder in future Nvidia-China transactions. While industry analysts see renewed access to China as a major potential boost for Nvidia’s near-term growth, questions remain about long-term impacts, legal scrutiny, and Beijing’s response to buying American AI chips.
It’s important to note that we observed this massive surge in bullish LEAPS on NVDA as markets notched another all time high throughout today’s trading session.
(adsbygoogle = window.adsbygoogle || []).push({});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
| Firm | Rating/Stars | Updated Date |
|---|---|---|
| CFRA | ★★★★★ | 08/12/2025 |
| Market Edge | Long | 05/16/2025 |
| Argus | Buy | 05/29/2025 |
| Morningstar | ★★★ | 08/11/2025 |
| LSEG | Outperform | 08/10/2025 |
| Schwab Equity Ratings | B | 08/11/2025 |
Analyst ratings for NVDA show a generally bullish consensus among major research firms. CFRA gives the highest rating with ★★★★★, while Market Edge rates it as Long and Argus issues a Buy. Morningstar provides a solid ★★★ rating, indicating a positive but more measured stance. LSEG assigns an Outperform, reflecting confidence in NVDA’s future performance.
Meanwhile, Schwab Equity Ratings gives it a B, suggesting above-average expectations. Overall, the majority of ratings lean toward strong buy or outperform, with no current outright sell recommendations from these firms.
Want to see more of these trades? Try out Cheddar Flow free for 7 days. Learn More
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.
