OPTIONS FLOW$NVDANvidia CorpOpen ticker analysis →
$13.85M in premium just moved through Nvidia Corp ($NVDA) Apr 16, 2027 $225 puts in a single sweep on Monday. The contracts changed hands on the sell side, on a strike right around where the stock is trading.
What happened
The trade printed in the final half hour, around 4:00 p.m. ET on Monday, October 12, with $NVDA trading near $226.52. 7,006 contracts went through at $19.76 apiece, or $1,976 per contract, for $13.85M in total premium.
It came in as a sweep, split across several exchanges to fill fast. Traders sweep when getting the position matters more than shaving a few cents off the price.
Only 2,158 contracts were open at this strike beforehand, so at least part of this is a fresh position rather than an old one being closed.
Why it matters
Selling puts gets paid if $NVDA holds up. The seller keeps the premium as long as the stock finishes above about $205.24 by Apr 16, 2027; below that, they are effectively signed up to own it at $225. That leans bullish to neutral on Nvidia.
Adjusted for delta, the position behaves like roughly 290,900 shares of NVDA, or about $65.9M of stock exposure in a company valued near $5.54T.
With 186 days until Apr 16, 2027, this is positioning for months, not a quick flip. Implied volatility sat near 36%, a middle-of-the-road price for movement.
Over the last 11 sessions $NVDA has traded between $222.75 and $243.37 and is up 1.5% over that stretch. The stock came into this trade near the bottom of that range.
The numbers
| Contract | NVDA Apr 16, 2027 $225 Put |
|---|---|
| Expiration | Apr 16, 2027 (186 days) |
| Execution | Sweep |
| Side | Sell side (at or near the bid) |
| Contracts | 7,006 |
| Price | $19.76 ($1,976 per contract) |
| Total premium | $13.85M |
| Stock at the trade | $226.52 |
| Strike vs. stock | At the money (0.7% below) |
| Breakeven at expiration | $205.24 |
| Delta | 0.42 |
| Implied volatility | 36% |
| Open interest before | 2,158 |
Three ways this could play out
Bullish continuation
If $NVDA pushes through $243.37, the top of its recent range, the move works for this seller and the flow starts to look like early conviction rather than noise.
Bearish rejection
If $NVDA slips under $222.75, the bottom of its recent range, the pressure lands on this seller, and $205.24 becomes the level that decides whether the trade is saved.
Neutral stabilization
If $NVDA chops between $222.75 and $243.37 into Apr 16, 2027, time decay does the work. That quietly pays this seller.
What to watch next
- $205.24: breakeven for this trade at expiration.
- $225 strike: whether $NVDA moves toward it or away from it.
- Open interest at the $225 put in the next session. A jump confirms a new position; a drop points to a close.
- Repeat flow in the Apr 16, 2027 expiration. More size at nearby strikes would show this was not a one-off.
- $222.75 and $243.37: the edges of NVDA’s recent trading range.
- April 16, 2027: expiration, 186 days out.
