GAMMA & VOLATILITY$NVDANvidia CorpOpen ticker analysis →Options positioning in Nvidia is stacking up around the $180 strike into Nov 11, 0.7% above where the stock trades at $178.67. This is a positioning estimate under a call-positive, put-negative convention; it is not an observation of dealer holdings.
What happened
Across 118 contracts in the Nov 11 expiration, the heaviest gamma sits at $180. Net gamma exposure across the chain comes to roughly $15.39M negative, with about $152.01M of premium traded.
This read uses the standard gamma-map convention, counting call open interest as positive gamma and put open interest as negative. Real dealer books can differ, so treat the sign as a guide to the setup rather than a certainty.
Why it matters
In a hypothetical negative-gamma dealer book, delta hedging would buy as price rises and sell as it falls, which can amplify moves. Actual dealer inventory and hedge activity are not identified by this estimate.
The company reference record lists Nvidia as a mega-cap semiconductors & related devices company with market capitalization near $4.51T. Market capitalization is an equity-size measure; it does not identify who traded or how much liquidity is available.
The listed expiration is Nov 11, about 2 calendar days from preparation. Compare price with the $180 strike and check the next positioning update; no pin or breakout is guaranteed.
Zooming out, $NVDA has been in a sharp slide, down 21.1% over the past 20 sessions, and it trades below its 20-day average of $209.16, near the bottom of that range between $170.24 and $243.37.
The numbers
| Stock price | $178.67 |
|---|---|
| Expiration | Nov 11 (2 days) |
| Peak gamma strike | $180 |
| Strike vs. stock | 0.7% above |
| Net gamma exposure | $15.39M (negative) |
| Premium traded | $152.01M |
| Contracts in chain | 118 |
| 40-session range | $170.24, $243.37 |
| 20-day average price | $209.16 |
| 20-session change | -21.1% |
Three ways this could play out
Bullish continuation
If $NVDA trades above $243.37, the recorded recent high, compare the next close with the $180 positioning strike. A break is observable; attributing it to dealer hedging requires additional evidence.
Bearish rejection
If $NVDA trades below $170.24, the recorded recent low, check whether the next close remains below that reference and whether the positioning estimate changes. The strike is a reference, not confirmed support.
Neutral stabilization
If $NVDA remains near $180 into Nov 11, record the distance from that strike and the next positioning estimate. Proximity alone does not prove gamma caused the price to stay there.
What to watch next
- $180: compare the next close with this reported peak gamma strike; no pinning probability is supplied.
- Nov 11: the listed expiration. Compare expiring contracts with later-expiry positioning rather than assuming the entire exposure disappears.
- The next gamma estimate: changes can reflect prices, open interest and the calculation convention; verify the inputs before interpreting a sign change.
- $170.24 and $243.37: the edges of the recent trading range.
