OPTIONS FLOW$NVDANvidia CorpOpen ticker analysis →
A $75.65M multi-leg trade hit $NVDA Jan 15, 2027 $80 calls on Tuesday, the kind of size that gets noticed on Nvidia's options tape. The contracts changed hands on the sell side, and the strike sits deep in the money, so the position tracks the stock almost dollar for dollar.
What happened
The trade printed midday, around 12:35 p.m. ET on Tuesday, September 29, with $NVDA trading near $230.23. 5,000 contracts went through at $151.30 apiece, or $15,130 per contract, for $75.65M in total premium.
It printed as a cross, with a buyer and seller matched in one pre-arranged print, a common way for large desks to trade size.
There were already 15,238 contracts open at this strike, so the trade could be adding to a position or unwinding one. The next open-interest update will settle which.
Why it matters
Selling calls usually means capping upside for income, often against shares already owned, or betting $NVDA stalls below about $231.30 into Jan 15, 2027.
Adjusted for delta, the position behaves like roughly 493,700 shares of NVDA, or about $113.65M of stock exposure in a company valued near $5.43T.
With 108 days until Jan 15, 2027, this is positioning for months, not a quick flip. Implied volatility was near 100%, very high, as the market prices in big swings.
Over the last 11 sessions $NVDA has traded between $208.93 and $233.21 and is up 7.7% over that stretch. The stock came into this trade near the top of that range.
The numbers
| Contract | NVDA Jan 15, 2027 $80 Call |
|---|---|
| Expiration | Jan 15, 2027 (108 days) |
| Execution | Multi-Leg Trade |
| Side | Sell side (at or near the bid) |
| Contracts | 5,000 |
| Price | $151.30 ($15,130 per contract) |
| Total premium | $75.65M |
| Stock at the trade | $230.23 |
| Strike vs. stock | 65.3% in the money |
| Breakeven at expiration | $231.30 |
| Delta | 0.99 |
| Implied volatility | 100% |
| Open interest before | 15,238 |
Three ways this could play out
Bullish continuation
If $NVDA pushes through $233.21, the top of its recent range, the pressure lands on this seller, and $231.30 becomes the level that decides whether the trade is saved.
Bearish rejection
If $NVDA slips under $208.93, the bottom of its recent range, the move works for this seller and the flow starts to look like early conviction rather than noise.
Neutral stabilization
If $NVDA chops between $208.93 and $233.21 into Jan 15, 2027, time decay does the work. That quietly pays this seller.
What to watch next
- $231.30: breakeven for this trade at expiration.
- $80 strike: whether $NVDA moves toward it or away from it.
- Open interest at the $80 call in the next session. A jump confirms a new position; a drop points to a close.
- Repeat flow in the Jan 15, 2027 expiration. More size at nearby strikes would show this was not a one-off.
- $208.93 and $233.21: the edges of NVDA’s recent trading range.
- January 15, 2027: expiration, 108 days out.
