This NVDA options trade represents a substantial bearish bet with $1.3 million in premium paid for 3,000 put contracts at the $145 strike expiring June 27, 2025. The position is particularly notable due to its exceptional volume-to-open-interest ratio of 1.25. This suggests significant new institutional interest rather than existing position adjustments.
With NVDA currently trading at $144.36, these puts are slightly in-the-money, and the 15-day timeframe until expiration indicates this is a short-term directional play. The sweep execution method typically signals institutional activity with urgency to fill the large order quickly. This suggests sophisticated traders expect downward pressure on NVDA shares over the next two weeks. The combination of the substantial premium, tight expiration window, and high relative volume makes this a significant bearish signal worth monitoring.
Volume and Open Interest Data
The NVDA $145 put expiring June 27, 2025 saw a major spike in trading volume on June 12, 2025. 6,468 contracts traded hands—a dramatic increase from the prior day’s 1,427. Despite this surge in volume, open interest (OI) only increased modestly by 40 contracts. This suggests the majority of the activity was likely short-term positioning or intraday trading, rather than new long-term bearish bets.
Over the previous sessions (June 10–11), volume remained relatively light, and OI changes were small. This hints at stability until this most recent influx. The volume/OI ratio on June 12th stood at 1.83, reinforcing the narrative of fresh, aggressive trading. Additionally, implied volatility (IV) held steady, only slightly fluctuating between 32.9% and 33.7%, while the contract price declined from $5.00 to $4.03, suggesting growing bearish sentiment alongside rising activity.
More Notable Options Trades Observed
We also identified further unusual activity today centered around the 145 strike, this time for the 07/18/2025 expiration. Similar to the earlier $1.3M put trade, this move reflects continued short-term bearish sentiment. The trade was a buy sweep order for 2,685 contracts at $6.43. It was executed above the ask, signaling urgency and strong conviction. The spot price of NVDA at the time was $144.62, placing this strike just in-the-money.
The total premium paid was approximately $1.7 million, pointing to institutional-level participation. Volume for the day reached 3,765 contracts, which, although substantial, is still dwarfed by the high open interest of 12,949 contracts. This suggests this may be added to an existing bearish position rather than fresh exposure. Overall, this order reflects continued short-term bearish sentiment at the 145 strike, reinforcing a narrative already in play from similar trades with earlier expiries.
What’s Happening with Nvidia
Nvidia continues to dominate headlines in June 2025 with major advancements in AI and strong financial performance. CEO Jensen Huang promoted “sovereign AI” across Europe, securing strategic partnerships with nations building their own AI infrastructure. The company posted a blowout Q1 with $44B in revenue—driven by massive growth in its data center segment. Nvidia achieved this despite U.S. export restrictions cutting off China sales. Investor confidence remains high, with NVDA stock holding steady around $144 and analysts projecting continued upside as global AI adoption accelerates.
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
| 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.
