A single options order on Nov 10 saw a trader purchase 34,696 Nvidia call contracts with a strike price of $185 expiring in March 2027, a position valued at $46 million. The trade was part of a wider surge of bullish activity in the chipmaker’s options market, where total buying for the $185 strike calls for December and March topped $130 million.
The spike in volume occurs as the Nvidia board carries out an investigation into CEO Jensen Huang, causing shares to trade near their lowest levels in several months. While most of the recent high-value activity was bullish, other traders expressed a bearish outlook, including one who bought $50 million in $140 put options around the same time.
